2018 (12) TMI 300

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....th the permission granted. Notice was issued under Section 22(3) directing production of the works contract agreement, work schedule and related documents in support of the conceded contract amount of Rs. 30,00,000/-, as per the returns filed by the assessee. 2. The assessee failed to produce the books of accounts in which event, the Assessing Officer made a best judgment assessment and estimated the probable omission and suppression at Rs. 30,00,000/-; an equal addition. In the process of making the assessment, the Assessing Officer merely proceeded for regular assessment without taking into account the permission granted for compounding. In appeal, the First Appellate Authority dismissed the appeal and the assessee was before the Tribuna....

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....tracts carried out by the assessee? 5. We will deal first with the assessee's revision which we are of the opinion poses no question of law. The assessee had applied under the compounding scheme under Section 8 of the KVAT Act, 2003 and had been granted permission to pay tax at the compounded rates. As has been found by the Tribunal, the assessee cannot turn around and challenge such benefit availed on the assessee's own application especially after the assessment year is over. Further but for the bland assertion the assessee produced nothing to substantiate the contention of labour contracts. In such circumstance, we reject O.T.Rev.No. 7/2016. 6. On the question of law raised by the State in its revision it has to be noticed that....