https://www.taxtmi.com/caselaws?id=239098 The Tribunal upheld the Assessing Officer's decision to invoke section 145(3) of the Income-tax Act due to the appellant's inadequate accounting practices. It rejected the unreliable book results and criticized the incorrect application of material consumption rates. The Tribunal applied presumptive profit rates under section 44AD for civil contractors, directing the calculation of income based on specified percentages. The appellant's cross-objection was dismissed, leading to the partial allowance of the Revenue's appeal and the dismissal of the appellant's objection. en-us Wed, 18 Sep 2013 00:00:00 +0530 Wed, 06 Nov 2013 09:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=239098 The Tribunal upheld the Assessing Officer's decision to invoke section 145(3) of the Income-tax Act due to the appellant's inadequate accounting practices. It rejected the unreliable book results and criticized the incorrect application of material consumption rates. The Tribunal applied presumptive profit rates under section 44AD for civil contractors, directing the calculation of income based on specified percentages. The appellant's cross-objection was dismissed, leading to the partial allowance of the Revenue's appeal and the dismissal of the appellant's objection. Case-Laws Income Tax Wed, 18 Sep 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=239098