2012 (3) TMI 692

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....d by the assessee, for Assessment Year 2008-09, is directed against the order of ld. CIT(A), Karnal dated 3.10.2011 u/s 250(6) of the Income-tax Act (in short 'the Act'). 2. The assessee has raised the following grounds of appeal: "1 The order confirmed by the ld. CIT(A) is null and void and against the law of natural justice. 2. The ld. CIT(A) erred in law by confirming the i....

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....a civil contractor and is engaged in the business of executing works of Haryana State. The AO observed that the assessee failed to maintain properly the muster-roll. The assessee furnished photocopies of the register. These photocopies did not contain proper particulars of the labourers. It was, further, observed by the AO that the assessee failed to produce the bills of purchase of stone concrete....

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....ss of civil contractor being engaged in the construction and repair of roads. The ld. CIT(A) did not accept the plea of the assessee. The appellant, further, stated that non-maintenance of stock register could not be valid ground for rejection of books of account, on the basis of some decisions of the Tribunals. The ld. CIT(A), did not accept the contention of the assessee and upheld the findings ....

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....is factually different and distinguishable. The estimate after rejection of books of account is required to be made on tangible, credible and objective criteria. This view is supported by a plethora of judicial decisions. It is well settled proposition that there can be an element of guess, in estimating the income. However, the same should not be purely arbitrary and based on surmises and conject....