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2014 (6) TMI 1049 - AT - Income TaxEstimation of income - A.O. completed the assessment under section 144 - CIT-A estimated the income at 3% of the gross receipts as against 5% estimated by the A.O. - Revenue argued that CIT(A) gave relief without calling for any remand report from the AO - HELD THAT:- Since the assessee has not furnished any additional evidence, re-appraising the existing fact on the basis of the submissions does not require any remand report. Ld. CIT(A) based his judgment on the basis of available facts on record and also considering the difficulties expressed by the assessee in not earning higher profit. Estimation of profit at 3% of turnover is reasonable. Therefore, grounds of the Revenue are rejected.
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