2017 (4) TMI 617

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..... books of account have not been produced at the stage of assessment. Consequently, a best judgement assessment was made. While the assessing officer adopted a gross profit rate to estimate the income of the assessee. The CIT (Appeals) had adopted a net profit rate of 10% considering the comparable cases of other persons engaged in similar business in respect of income arising from contracts. In res .....

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..... l. - Decided in favour of the assessee
Hon'ble Bharati Sapru And Hon'ble Saumitra Dayal Singh, JJ. For Appellant : S.C.,Piyush Agarwal For Respondent : Suyash Agarwal ORDER This Income Tax Appeal has been filed by the revenue against the order of the Income Tax Appellate Tribunal, Agra Bench, Agra dated 06.02.2009 for the assessment year 2004-05. The appeal was admitted on the follo .....

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..... see. It is an admitted case between the parties that the books of account have not been produced at the stage of assessment. Consequently, a best judgement assessment was made. While the assessing officer adopted a gross profit rate to estimate the income of the assessee. The CIT (Appeals) had adopted a net profit rate of 10% considering the comparable cases of other persons engaged in similar bu .....

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