2018 (9) TMI 411

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....trary 8% profit rate to declared receipts of Rs. 11,97,88,637/- post rejection of books u/s 145 without any adequate and legal foundation. 2. That on the facts and in the circumstances of the case and in law, Ld CIT-A erred in not restoring the returned business profits which are quite reasonable and contemporaneous (being 4.26% of declared receipts) being Rs. 51,09,000/-. 3. That on the facts and in the circumstances of the case and in law, Ld CIT -A erred in not vacating the ad hoc and arbitrary assessment made by Ld AO at hypothetical business income of Rs. 95,83,090 without any requisite analysis. 4. That on the facts and in the circumstances of the case and in law, both Ld AO and learned CIT-A erred in passin....

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....eceived a sum of Rs. 5,38,020/-, which being not the part of contract receipts, was also separately added to the income of the assessee as income from other sources. 3. The appellant assailed the aforesaid order in appeal before the ld. CIT(A), where also several notices were issued to the assessee on 12.03.14, 18.07.14, 28.08.14, 10.10.14 and 22.12.2014 fixing the dates of hearing on 29.04.14, 31.07.14, 12.09.14, 21.10.14 and 13.01.2015 respectively. But the assessee did not attend at any of the aforesaid date. Therefore, keeping in view the non-cooperation on the part of the assessee before both the authorities below and for want of any details or books of account, the ld. CIT(A) affirmed the order of the AO vide impugned order. Aggrie....

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....assessee was given more than sufficient opportunities by both the authorities below, but the assessee always paid deaf ear to them. On a query by the bench to assign the reason for such a non-cooperation on the part of the assessee before the authorities below, the ld. AR firstly apologized the defaults of assessee and agreed to pay the cost of Rs. 20,000/- for such defaults. It was, however, stated that all the books of account are maintained in ordinary course of business, but the same could not be produced before the AO for the reason that the accounts books were with the lady accountant, who had gone on long leave owing to her pregnancy. This reason, however, is not appealing to us, as the assessee has also failed to attend various date....