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2021 (8) TMI 815 - AT - Income TaxRectification of mistake u/s 254 - estimation of income @12.5% - rejection of books of accounts - HELD THAT:- The rate of estimation of income depends on the facts and circumstances of each case and the same cannot be applied uniformly in all the case. In the instant case, after considering the various issues, ITAT viewed that estimation of income @12.5% is reasonable. ITAT Hyderabad Bench in KNR Constructions [2012 (10) TMI 1046 - ITAT HYDERABAD] and confirmed the estimation of income @12.5%. Tribunal has taken consistent view for estimation of income ranging from 9% to 12.5% depending on the facts and merits of each case. After having considered the facts and merits of the case of the assessee, the Tribunal has decided the appeal of the assessee estimating the income @12.5% before depreciation and interest on remuneration paid to the partners. The assessee did not specifically mention any defect or mistake in the Tribunal order and what the assessee is requesting through the M.A. is revision of the order passed by the ITAT which is not permissible u/s 254(2). Since, we have decided the appeal taking into consideration of all the issues, we, find no mistake in the order of the ITAT and there is no reason to interfere with the order already passed. Hence, the M.As. filed by the assessee are dismissed.
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