2009 (8) TMI 749

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..... :- 21-8-2009 - ADARSH KUMAR GOEL, DAYA CHAUDHARY MRS., JJ JUDGMENT The assessee has preferred this appeal under section 260A of the Income-tax Act, 1961 (for short, "the Act") against the order dated January 27, 2008, annexure A-3, passed by the Income-tax Appellate Tribunal, Chandigarh Bench "A", Chandigarh in I. T. A. No. 497/Chd/2007 for the assessment year 2004-05, proposing to rais .....

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..... book results of the assessee should have been accepted. The Tribunal restored the assessment made by the Assessing Officer, modifying the same equal to 4 per cent. of gross receipts. It was held that the Commissioner of Income-tax (Appeals) was not jus- tified in interfering with the assessment when books of account had not been produced. No doubt the best judgment assessment could not be arbitra .....

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..... radesh High Court in Asst. CIT v. Gendalal Hazarilal and Co. [2003] 263 ITR 679 ; [2004] 134 Taxman 384 and the Madras High Court in R. V. S. and Sons Dairy Farm v. CIT [2002] 257 ITR 764 ; [2003] 130 Taxman 615 (Mad). 5. We are unable to accept the submission. 6. The rate to be applied, having regard to features of an individual case, depends on the facts of each case. In the absence of rea .....

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