TMI Blog2013 (12) TMI 1660X X X X Extracts X X X X X X X X Extracts X X X X ..... his is an assessee s appeal against the order of the CIT(A), Vijayawada dated 30.7.2010. The assessee has raised the following effective grounds: 2. The Ld. CIT(A) is not justified in upholding the action of the assessing officer in rejecting the books of account. 3. Without prejudice to the ground no.2, the estimate of profit, made by the Ld. CIT(A) @ 10% of the gross receipts is on a highe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... no outstanding amount at the end of the year, therefore, no disallowance could have been made. Further, it was contended that once the net profit is estimated by rejecting the books of account, the disallowances from section 30 to 44 of the Act are deemed to have been considered. Reliance was placed on the decision of the case Jaipur Vidyut Vitran Nigam Ltd. Vs. DCIT 123 TTJ (Jp) 888 (2009) and th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of 2013 dated 20.6.2013, wherein the Hon ble High Court has followed the decision in the case of Indwell Constructions 232 ITR 776 (AP) and accordingly the issue is covered in favour of the assessee. 5. The Ld. D.R. however relied on the decision of the coordinate bench in the case of K. Venkataraju Vemagiri Vs. Addl. CIT Rajahmundry in ITA No.312/Vizag/2008 dated 3.5.2013 wherein the coordinat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Whether on facts and in the circumstances of the case the appellate tribunal is justified in holding that no further disallowance under Section 40a(ia) and 40A(3) of the Income Tax Act, can be made on the basis of the books of accounts inspite of mandatory provision and non-obstante clause contained therein, merely because the income was determined on estimate basis, by rejecting such books of a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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