https://www.taxtmi.com/caselaws?id=265522 The case involved the rejection of books of account by the Assessing Officer and the estimation of income at 12.5% of gross receipts due to non-verifiable expenditure. The CIT(A) directed to add 1% of labourer expenses to the returned income. The Tribunal restricted the disallowance of expenditure claimed to 5% of labour payments and upheld the relief granted by the CIT(A) to the assessee. The discrepancies in the accounts were considered, leading to a partial allowance of the Department's appeal. en-us Tue, 05 Aug 2014 00:00:00 +0530 Tue, 13 Oct 2015 06:36:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=265522 The case involved the rejection of books of account by the Assessing Officer and the estimation of income at 12.5% of gross receipts due to non-verifiable expenditure. The CIT(A) directed to add 1% of labourer expenses to the returned income. The Tribunal restricted the disallowance of expenditure claimed to 5% of labour payments and upheld the relief granted by the CIT(A) to the assessee. The discrepancies in the accounts were considered, leading to a partial allowance of the Department's appeal. Case-Laws Income Tax Tue, 05 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=265522