TaxTMI 
TaxTMI 
2026 (6) TMI 793
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....ssment Year is 2016-17. 2. The grounds raised read as follows:- The learned Commissioner of Income-tax (Appeals) NFAC, ought not to have upheld the order of the Assessment Unit, on the ground that the opportunities given by the Assessing Officer were not responded by the Appellant. The Appellant submits and states that in his case the turnover returned was more than Rs. 1 crore and estimation of income @ 8% of turnover in terms of Sec. 44AD, in the absence of proper response, was incorrect and not in accordance with the law. The Appellant submits and states that his case was tax audited in terms of Sec.44AB and ought not to have been rejected by the Assessing Officer without assigning reason for the same. ....
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....ptember 2025, upon receipt of the case records from the earlier Representative, came to know about the status of the proceedings. Thereafter, the papers were handed over to the present Representative in January 2026 for taking necessary steps before the Tribunal. Therefore, it was stated by the assessee that the delay occurred in the process of collecting records, understanding the status of the case, and preparing the appeal papers. On perusal of the reasons stated, we are of the view that no latches can be attributed to the assessee as there is sufficient cause for belated filing of this appeal. Hence, we condone the delay and proceed to dispose off the appeal on merits. 4. Brief facts of the case are as follows: The assessee is an ind....
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....submissions made before the lower authorities and contended that the estimation of income at 8% of the total turnover is erroneous, particularly when the assessee's books of account were duly audited. It was submitted that, due to misunderstanding and communication gap between the assessee and the earlier authorised representative, the clarifications and details sought by the AO during the course of assessment proceedings could not be properly furnished. The Ld. AR further submitted that the assessee's accounts were subjected to tax audit u/s. 44AB of the Act and, therefore, estimation of income at 8% by adopting the principles of section 44AD of the Act is wholly unwarranted, especially when the turnover of the assessee exceeded the thresh....
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.... 4. Computation of total income 5. License date 02.07.2015 6. Air Way Bill 9. It is seen that though the assessee had furnished the audit report during the course of assessment proceedings, the same was not taken cognizance of by the AO on the ground that it was not properly certified. Consequently, the AO proceeded to complete the assessment by estimating the income at 8% of the total turnover. Before us, the Ld.AR, on the basis of the sales tax returns, trading and profit and loss account, and balance sheets for the earlier years, furnished a chart reflecting the percentage of net profit disclosed by the assessee for Assessment Years 2013-14 to 2015-16. From the said details, it is noticed that the net profit ....