https://www.taxtmi.com/caselaws?id=356428 The Tribunal upheld the addition of Rs. 24,96,557 as undisclosed contract receipts in the case involving a Civil Contractor for the assessment year 2009-10. The Tribunal found the Assessing Officer's addition justified, rejecting the assessee's argument that only the profit element in the gross contract receipts should be added to income. The Tribunal concluded that the expenses claimed were already factored into the profit and loss account, dismissing the appeal and affirming the CIT(A)'s analysis of the incorrectness of the assessee's claim. en-us Wed, 20 Dec 2017 00:00:00 +0530 Tue, 06 Mar 2018 06:34:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=356428 The Tribunal upheld the addition of Rs. 24,96,557 as undisclosed contract receipts in the case involving a Civil Contractor for the assessment year 2009-10. The Tribunal found the Assessing Officer's addition justified, rejecting the assessee's argument that only the profit element in the gross contract receipts should be added to income. The Tribunal concluded that the expenses claimed were already factored into the profit and loss account, dismissing the appeal and affirming the CIT(A)'s analysis of the incorrectness of the assessee's claim. Case-Laws Income Tax Wed, 20 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=356428