2014 (4) TMI 855

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....eal under Section 260A of the Income Tax Act, 1961 calling in question the concurrent orders passed by the Commissioner of Income Tax (Appeal) and the Appellate Tribunal in the matter of assessment of individual income of the respondent assessee for the assessment year 2008-09. Respondent assessee is engaged in civil construction work and on 29/09/2010 submitted a return of income to the tune o....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... and other materials with regard to construction work carried out by the assessee for M/s. Lupin Ltd. and M/s. Moenus Textile P. Ltd and certain other establishments like M/s. Bhaskar Industries Ltd., the entire material which formed the additional evidence was transferred to the Assessing Officer for verification and submission of his report. The Assessing Officer, verified the same and objected ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....n 194(C) of IT Act. It was also found that an affidavit along with documents has been filed in support thereof. Taking note of the aforesaid evidence and various judgments of the High Court and Supreme Court the Commissioner of Income Tax (Appeals) in the facts and circumstances thought it appropriate and reasonable to assess the income of appellant by estimating net profit of 10% of the gross con....