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2021 (10) TMI 259 - ITAT HYDERABADCondonation of delay - delay of 122 days - HELD THAT:- As delay of 122 days in filing of the assessee’s appeal before the Tribunal has occurred due to the files being misplaced and ill health of the assessee’s counsel. Hence I am of the view that though there is some negligence on the part of the assessee it deserves some leniency. Therefore, in the interest of Justice we hereby condone the delay of 122 days in filing both the appeals and proceed to adjudicate the matter on merits. Estimation of turnover - scrutiny assessment - income of the assessee on the sale of built-up space - HELD THAT:- As revealed that the assessee has not maintained his books of accounts. It was also revealed that the assessee had sold built up space for ₹ 1,21,46,655/-. Since the assessee could not furnish sufficient details to determine the profit arising out of the sale of the built-up space of ₹ 1,21,46,655/- the Ld. AO estimated the income on the sale @15% on the turnover which works out to ₹ 18,22,000/- and brought the same to tax. Even before the Ld. CIT (A) the assessee could not furnish the particulars of his income with respect to the sale of built-up space. Therefore, the Ld. CIT (A) magnanimously relied on the provisions of section 44AD of the Act and sustained the addition at 8% of the Turnover. Neither the assessee nor its representative could furnish any evidence as well for having maintained the books of accounts and relevant documents. Therefore, in this situation find it not necessary to interfere with the order of the Ld. CIT (A) who has already granted generous relief to the assessee. - Decided against assessee.
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