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2021 (8) TMI 937 - AT - Income TaxEstimating the income of the assessee @ 8% on the sub-contract turnover - addition made being the entire sub-contract receipt not found to be genuine and ₹ 18,00,000/- being the amount received from three parties which remained unexplained - HELD THAT:- From the facts of the case it is apparent that the assessee had not maintained proper books of accounts or produced his bank statements to justify the expenditure incurred by him for undertaking the contracts. The assessee has also failed to produce bills and vouchers even to establish that he was undertaking and executing civil contracts. CIT (A) has arrived at his conclusion based on certain contract agreements, bank account etc., which are cited in his order and after perusing those documents we don’t find any strength in the observation made by the Ld. CIT (A). On verifying the paper book of the assessee running to 32 pages, we do not find any concrete evidence to establish that the assessee is actually executing any civil contract works with respect to the contracts he has claimed to have undertaken - assessee could also not furnish proper evidence to establish that the parties from whom the assessee had received the amount of ₹ 18 lakhs is genuine. Therefore, we do not find any infirmity in the order of the Ld. AO. For the above stated reasons, we set aside the order of the ld. CIT (A) and accordingly the order of the ld. AO is hereby reinstated. Appeal of the Revenue is allowed.
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