https://www.taxtmi.com/caselaws?id=245575 The delay in filing cross-objections by the assessee was condoned by the ITAT Hyderabad. The Assessing Officer's income estimation was adjusted by the CIT(A), allowing deduction for diesel expenses and calculating income at 7% of net contract receipts. The deduction for interest and remuneration payments to partners was allowed, following a previous decision in favor of the assessee. The matter was remanded to the Assessing Officer for fresh assessment due to the ex-parte framing of the assessment. Ultimately, both the Revenue's appeal and the assessee's Cross Objection were treated as allowed for statistical purposes. en-us Thu, 24 Oct 2013 00:00:00 +0530 Wed, 02 Apr 2014 17:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=245575 The delay in filing cross-objections by the assessee was condoned by the ITAT Hyderabad. The Assessing Officer's income estimation was adjusted by the CIT(A), allowing deduction for diesel expenses and calculating income at 7% of net contract receipts. The deduction for interest and remuneration payments to partners was allowed, following a previous decision in favor of the assessee. The matter was remanded to the Assessing Officer for fresh assessment due to the ex-parte framing of the assessment. Ultimately, both the Revenue's appeal and the assessee's Cross Objection were treated as allowed for statistical purposes. Case-Laws Income Tax Thu, 24 Oct 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=245575