9911796707
TMI Blog2023 (12) TMI 712X X X X Extracts X X X X X X X X Extracts X X X X ..... lpaiguri (hereinafter the "ld. CIT(A)") dt. 27/01/2017, passed u/s 250 of the Income Tax Act, 1961 ("the Act") for the Assessment Year 2013-14. I.T.A. No. 2515/Kol/2019 is an appeal filed by the assessee directed against the order of the Learned Commissioner of Income Tax (Appeals), Jalpaiguri (hereinafter the "ld. CIT(A)") dt. 30/01/2018, passed u/s 250 of the Income Tax Act, 1961 ("the Act") for the Assessment Year 2015-16. 2. The Registry has pointed out that there is a delay of 145 days in filing of I.T.A. No. 2514/Kol/2019 and I.T.A. No. 2515/Kol/2019 by the assessee. Petition for condonation of delay is placed on record by the assessee explaining the reasons for late filing of appeal. On perusing the same, we are convinced that the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... enue are in appeal before this Tribunal. 6. At the outset, the ld. Counsel for the assessee submitted that similar issue came up for adjudication before this Tribunal in assessee's own case for Assessment Year 2011-12 and 2014-15 wherein also books of accounts of the assessee were rejected and profits were estimated by the ld. CIT(A) @8%, however, Hon'ble Tribunal partly allowed the assessee's appeal by estimating the net profit @6.75% on the contractual turnover. The ld. Counsel for the assessee prayed that for the year under appeal also, as against all the additions made by the Assessing Officer and partly allowed by the ld. CIT(A), the net profit may be estimated @6.75%. 6.1. On the other hand, the ld. D/R vehemently argued supporting ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... u/s 69C, 40(a)(ia) & 40A(3) of the Act and thereafter rejected the books of accounts of the assessee and estimated income[NP] at 8% of the turnover. Aggrieved the assessee is before us. 4. We have heard both the parties and perused the records. We note that assessee is a civil contractor of the Government and is engaged in the construction of roads and other civil works in the border areas of the State/National & International borders. In the assessment year 2011-12 & 2014-15, the assessee had timely filed return of income disclosing an income of Rs. 1,57,40,468/- & Rs. 1,77,85,850/- respectively from contractual business of net profit of 5.48% and 4.55% respectively. The AO after survey was conducted on 31.07.2015 after issuing 148 notic ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to estimate net profit at 8%. Pursuant to which, the assessee pleaded that the estimate of net profit should be determined at 5%. We note that the Ld. CIT(A) has estimated the income at 8% instead of 5.79% declared by the assessee (excluding material supplied by the Government) and also it was made clear by the Ld. CIT(A) that assessee will get deduction at Rs. 7,23,906/- and Rs. 53,543/- which were added by the AO though not contested by the assessee. We note that the Ld. CIT(A) has not taken into consideration any comparable cases similar to that of assessee to determine net profit at 8%. We note that from the assessees own performance and net profit declared from A.Y. 2011-12 to 2014-15, an estimate of 6.75% on the contractual turnover o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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