9911796707
TMI Blog2011 (11) TMI 52X X X X Extracts X X X X X X X X Extracts X X X X ..... tter turnover and better g.p. rate during the year in comparison to immediately preceding year as discussed above. The assessee has also met out the defects pointed out by the A.O - Held that appeal is devoid of any merit - decided in favor of assessee. - ITA NO. 411/2011 - - - Dated:- 11-11-2011 - MR.JUSTICE NARENDRA KUMAR JAIN-I MS.JUSTICE BELA M.TRIVEDI JJ . Mr.Sameer Jain, for the appellant BY THE COURT (PER HON. TRIVEDI J.) The present appeal has been filed by the Revenue under Section 260A of the Income Tax Act (hereinafter referred to as the said 'Act') against the order dated 31.10.2008, passed by the Income Tax Appellate Tribunal, Jaipur Bench 'A' Jaipur (hereinafter referred to as the 'Tribunal) in ITA No. 305/ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... contained in Section 145(3) of the said Act, more particularly, when the books of accounts of the assessee were found to be defective. Pressing into service the provisions of Section 145(3) of the said Act, the learned counsel submitted that where the assessing officer was not satisfied about the correctness of the accounts of the assessee, the Assessing Officer was required to make an assessment in the manner provided in Section 144 and that in the instant case the Assessing Officer having invoked Section 145(3) of the said Act, on he having not been satisfied with the correctness of the books of accounts of the assessee, the CIT(Appeals) and the Tribunal ought to have confirmed the said order of A.O. He also submitted that the Tribunal ha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ce there was no reason for the AO to ignore the same. Considering these material aspect of the case, we are of the view that even if it is accepted for the moment that there was defect in the books of account as the AO tried to, it is well established position of law that past result of assessee is the best guide to estimate the income. Undisputedly, the assessee had shown better turnover and better g.p. rate during the year in comparison to immediately preceding year as discussed above. The assessee has also met out the defects pointed out by the A.O. Considering all these facts and circumstances of the case especially the past result, we are of the view that the ld. CIT(A) has rightly deleted the trading addition and the addition made in ..... X X X X Extracts X X X X X X X X Extracts X X X X
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