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        Case ID :
        Income Tax

        Rejection of books of account - estimation of profit - we set...

        Court Upholds Assessing Officer's Decision: Assessee's Income Estimated at 10% of Turnover, Overrules CIT(A)'s Enhancement.

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                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.
                                Rejection of books of account - estimation of profit - we set aside the decision of the CIT(A) in enhancing the income of the assessee and uphold the order of the AO in estimating the income of the assessee @ 10% on the total turnover. CIT(A) has treated it as other income. The CIT(A) has co- terminus powers but once a pragmatic view has been formed by the AO, it should be changed as per the case law cited supra. Further, on perusal of the details of other income shown in the financial statement, this income is related to the primary business activity of the assessee. - AT
                                Note: It is a system-generated summary and is for quick reference only.
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