2012 (6) TMI 877

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..... uced wages register and have maintained the payment vouchers which are without any receipts and are self made vouchers. In such facts and circumstances of the case, the results declared by the assessee are not reliable and the books of account cannot be said to be complete and correct and correct income cannot be deduced from such books of account. No infirmity in the order of the ld. CIT(A), who has rightly invoked the provisions of section 145(3)
Sh. H.S. Sidhu, Judicial Member And Sh. B.P.Jain, Accountant Member Appellant By:Sh. P.N. Arora, Advocate Respondent By:Sh. Amrik Chand, DR ORDER PER BENCH: This appeal of the assessee arises from the order of the CIT(A), Amritsar, dated 06.01.2012 for the assessment year 2008-09. 2. .....

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..... and the addition confirmed by the ld. CIT(A), may be deleted. Alternatively, the addition is very high & excessive. 5. Any other ground of appeal which may be urged at the time of hearing of the appeal." 3. The brief facts of the case are that the assessee is engaged in the business of civil construction such as sewerage, water supply system etc. The assessee had declared a Net Profit rate of 3.60% as compared to 3.87% in the immediately preceding year. The contract receipts declared during the year were ₹ 1,01,22,137/- as compared to ₹ 1,32,26,714/- in the immediate preceding year. With regard to fall in the Net profit rate, it was explained that the decrease is due to old age of the assessee. The assessee produced the vouche .....

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..... er of the ld. CIT(A), who has rightly invoked the provisions of section 145(3) of the Act. 5.1. As regards the estimation of income, the AO has applied Net Profit rate of 8% and has relied upon the decision of the Hon'ble Punjab & Haryana High Court, in the case of CIT, Hissar vs. Prabhat Kumar Contractor, Sirsa, in ITA No.293 of 2008 dated 14.11.2008. The AO has not brought out the facts on record of the case of CIT, Hissar vs. Prabhat Kumar Contractor, Sirsa (supra), as to how the facts in that case are identical to the facts of the present case. The assessee has been declaring Net Profit rate of 3.87% in the preceding year at a turnover of ₹ 1,32,26,714/-, which has been accepted by the department There is no dispute to this fact. .....

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