TaxTMI 
TaxTMI 
2012 (5) TMI 687
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....n appeal filed by the assessee against the order dated 16.06.2011 passed by the learned CIT (Appeals)-II, Agra for Assessment Year 2006-07. 2. The grounds raised in the appeal effectively pertain to estimation of profit by applying 8% of Net Profit rate. 3. The brief facts of the case are that the assessee is a civil contractor. Gross receipts from civil contract work was Rs. 1,90,96,014/-. The ....
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....er. The CIT(A) confirmed the order of Assessing Officer. 4. This appeal was fixed for hearing on 24.04.2012. On 24.04.2012 the appeal was adjourned to 16.05.2012 on the request of the assessee. On 16.05.2012 the assessee's Counsel sought adjournment on the following ground :- "The above noted appeal is fixed for 16.05.2012, but due to sudden death yesterday & Uthaoni on 16.05.2012 of Smt. Savit....
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....tion, we now proceed to decide the appeal on merit. 6. We have heard the Ld. Departmental Representative and considered the Paper Book filed by the assessee. Admitted facts of the case are that the assessee is a civil contractor who did not maintain proper books of account. The assessee did not furnish relevant bills and vouchers of purchase and expenses before the Assessing Officer. In the light....
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....tuation the Net Profit rate upto 6% has been accepted even at I.T.A.T. level. It was also submitted by the assessee in the written submission before the CIT(A) that the interest income of Rs. 79,400/- is business income of the assessee, therefore, separate addition is not warranted. The estimation of contract receipt includes this interest income also. After considering the totality of the facts o....