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Ajai Kumar Singh Versus Commissioner of Income Tax And 2 Others

2016 (5) TMI 803 - ALLAHABAD HIGH COURT

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 asses .....

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Accordingly, assessment on its basis cannot be faulted merely for the reason that past tax history was not considered.

The question is to whether the assessment should have been @ 10% of the Gross Contract Receipt or at some reduced .....

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ary 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 .....

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Kumar for the Income Tax Department. The petitioner is a civil contractor. He was assessed under Section 144 of the Income Tax Act, 1961 for the assessment year 2010-11 vide order dated 27.03.2013. The Assessing Authority rejected the account books .....

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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 a .....

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any estimation of income could have been done except for the Gross Contract Receipts of the year 2010-11. Therefore, he proceeded to assess the income on its basis. The assessment on the basis of the past income of the petitioner could not have been .....

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pon it rather than the past tax record. In Commissioner of Income-Tax vs. Mettewal Co-operative Society 2015 ITR 377 it has been held that the power of assessment conferred upon the Assessing Officer is quasi-judicial in nature and must be guided by .....

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r 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 useful in the absence of .....

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