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TMI Blog2017 (9) TMI 975X X X X Extracts X X X X X X X X Extracts X X X X ..... e of the Assessing Officer, with the passage of time, relief is granted in favour of the assessee. Therefore, the appellant/assessee is not pressing these two questions. 3. It is then urged that question Nos.1 to 4 and the overall perversity in the order of the Tribunal would enable this Court to admit this appeal as these questions are substantial questions of law. 4. In that regard, it is urged that there was no reasonable opportunity given to the appellant/assessee so as establish and prove its version. The version is arising from the peculiarity of its business. During the previous year relevant to the Assessment Year 2007-08, the appellant achieved a turnover of Rs. 131 crores. The accounts of the appellant were audited by a statutor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 7. Yet, the Assessing Officer passed an order on 16-12-2009, only five days after the date of the letter dated 11-12-2009 wherein he rejected the books of account. He estimated the gross profit of the appellant at 9.78% based on the average of earlier two years as against 7.43% gross profit as per the audited accounts of the appellant. Thus, detail submissions by the assessee were not taken into consideration. In any event, had complete opportunity been provided, the appellant would have been in a position to demonstrate and establish that this estimation is wholly uncalled for. 8. Therefore, the resultant addition of Rs. 3,43,51,585/was not justified and all the more when the other disallowances/additions were held to have not been satisf ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2009, 22-9-2009, 6-10-2009, 15-10-2009, 23-10-2009, 27-10-2009 and 29-10-2009 respectively. The numerous opportunities resulted in the assessee failing to file the details. It is thereafter on 1-12-2009 a notice was issued requiring the assessee to file such details on 11-12-2009. The assessee failed to produce these details and instead filed a letter. It is in these circumstances and when the Assessing Officer found that there is no response and the assessee is not producing the relevant documents despite opportunities granted to him, that he completed the assessment, that is on the basis of the materials before him. He observed that since the books of account, documents and other materials as required have not been produced, the satisfact ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... been maintained. 15. The Tribunal heard the arguments of both sides and perused the record. The ground No.1 in the assessee's appeal and in the Revenue's appeal this ground was common. It was taken up by the Tribunal and after hearing the parties, the Tribunal found that a reasonable and fair view should be adopted in estimating the turnover. The First Appellate Authority while restricting the gross profit rate at the rate of 9%, has taken into consideration the overall facts and circumstances of the case. He has also taken into consideration the increase in the turnover of the assessee as compared to previous years. Once on facts there was no infirmity found in the partial relief granted to the assessee, then, the grievance of bo ..... X X X X Extracts X X X X X X X X Extracts X X X X
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