https://www.taxtmi.com/caselaws?id=265717 The Tribunal allowed both appeals for statistical purposes and directed a fresh adjudication by the Assessing Officer based on the evidences provided by the assessee to substantiate claimed expenses. The CIT(A) upheld the rejection of books of accounts but reduced the estimated income to 6% of contract receipts, remitting the matter back to the Assessing Officer for further examination. The Assessing Officer's decision to reject books of accounts and estimate income at 12.5% was considered fair and reasonable, given the lack of supporting documents for claimed expenses. en-us Fri, 27 Jun 2014 00:00:00 +0530 Thu, 15 Oct 2015 07:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=265717 The Tribunal allowed both appeals for statistical purposes and directed a fresh adjudication by the Assessing Officer based on the evidences provided by the assessee to substantiate claimed expenses. The CIT(A) upheld the rejection of books of accounts but reduced the estimated income to 6% of contract receipts, remitting the matter back to the Assessing Officer for further examination. The Assessing Officer's decision to reject books of accounts and estimate income at 12.5% was considered fair and reasonable, given the lack of supporting documents for claimed expenses. Case-Laws Income Tax Fri, 27 Jun 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=265717