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2016 (5) TMI 803 - ALLAHABAD HIGH COURT

2016 (5) TMI 803 - ALLAHABAD HIGH COURT - TMI - Rejection of books of accounts - whether the assessment should have been @ 10% of the Gross Contract Receipt or at some reduced rate? - Held that:- The past tax history of the assessee may be one of the guiding factors for making best judgement assessment under Section 144 of the Act but the Gross Contract Receipt of the relevant year appears to be a more authentic and a sure guide for the assessment. The past tax history would have been more usefu .....

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iable to be disturbed in exercise of extra ordinary discretionary jurisdiction, unless it is shown that the application of the said rate was patently erroneous in law.

No such material has been placed before to show that the assessment @ 10% of the Gross Contract Receipt is arbitrary or palpably erroneous. - Writ Tax No. - 400 of 2016 - Dated:- 13-5-2016 - Hon'ble Pankaj Mithal, J. For the Petitioner : Suyash Agarwal For the Respondent : S.C. ORDER Heard Sri Suyash Agarwal, le .....

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n appeal preferred a revision under Section 264 of the Act. The revision has been dismissed by the Commissioner of Income Tax vide order dated 19.01.2016. This order has been impugned by means of this writ petition. Sri Suyash Agarwal, learned counsel for the petitioner argued that the assessing authority has failed to take into account the past tax history of the petitioner and the the material on record in estimating the income. The assessing authority had rejected the account books leaving no .....

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