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2022 (2) TMI 165 - AT - Income TaxEstimation of income @15% on gross sales after rejection of Books of accounts - HELD THAT:- As bounden duty of the assessee not only to cast its onus of proving the corresponding contracts as well as sub-contracts executed in the relevant previous year but also the cogent supportive evidence of the expenditure items wholly and exclusively incurred for deriving the business income/turnover. The fact also remains that the AO had nowhere commented upon the assessee's voluminous evidence even if it is accepted that it has placed on record before us some additional details as well. We make it clear that in Mech Engineers [2021 (3) TMI 738 - TELANGANA HIGH COURT]holds that contractual and sub-contractual receipts have to be assessed @9% and 6%; respectively. Faced with this situation, we restore the Revenue's instant grievance back to the Assessing Officer with a clear cut direction that it shall be incumbent upon the assessee to prove all kinds of receipts forming part of turnover as well as the corresponding expenditures' claims failing which the same would stand assessed in light of the hon'ble jurisdictional high court's foregoing decision. Revenue's appeal is treated as allowed for statistical purposes.
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