2018 (6) TMI 545

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....come for AY 2012-13 declaring total income at Rs. 1,99,06,668/-. Subsequently, the case was selected for scrutiny through CASS and notices u/s 143(2) and 142(1) were served on the assessee on various dates, but, there was no compliance from the assessee to all the notices issued by the AO. He, therefore, completed the assessment u/s 144 of the Act as under: 2.1 He observed that on perusal of the P&L account, the assessee shown the gross contract receipts to the tune of Rs. 33,20,54,449/- and sale of scrap of Rs. 6,26,440/- under the head income from other sources. In the absence of books of account and non production of bills and vouchers, the AO estimated the income @ 8% of gross subcontract receipts as business income and sale of scrap....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ecuted, the AO vide his remand report has accepted that w.r.t. works taken from MEIL and M/s. Yamne Power Pvt. Ltd., the assessee executed the works in the capacity of subcontractor/sub-sub contractor. W.r.t. works taken from UAN MAX Infra Ltd" AO stated that a copy of work order was only produced before him and hence he could not certify whether the works are executed as a contractor or a sub-contractor. But the very work order mentions that the work is that of the State of Nagaland and the assessee got the work from UAN Max Infra Ltd. This shows that assessee is only sub-contractor. In view of the above observations, the CIT(A) held that the assessee executed all the works in the capacity of sub-contractor, the income returned by the asse....