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2018 (4) TMI 996 - ITAT VISAKHAPATNAMRevision u/s 263 - addition pertaining to expenditure incurred by the assessee - Held that:- AO while passing the order u/s 143(3) has passed the order without calling for the relevant material, without conducting any enquiry simply accepted the income returned by the assessee for the assessment year 2007-08 to 2010-11 and the Ld.Commssioner directed the AO to examine the relevant material and conduct enquiry and passed order in denovo in accordance with law - CIT directed the AO to examine the issue and passed orders accordingly. The AO has examined the issue passed the orders denovo in accordance with law. We find infirmity in the order passed by the AO confirmed by the CIT(A) and accordingly this ground of appeal of the assessee is dismissed. Estimation of income at 12.5% made by the Ld.CIT(A) - Held that:- AO has estimated the income at ₹ 27,00,437/- i.e. at 12.5% on ₹ 2,16,03,500/-. On appeal, the Ld.CIT(A) has only considered the amounts towards the site purchase payments of ₹ 18,87,500/- for the assessment year 2010-11 and estimated at ₹ 2,35,938/- at 12.5% on ₹ 18,87,500/-. We find infirmity in the order passed by the Ld.CIT(A), this appeal filed by the assessee is dismissed.
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