9911796707
TMI Blog2012 (6) TMI 877X X X X Extracts X X X X X X X X Extracts X X X X ..... arises from the order of the CIT(A), Amritsar, dated 06.01.2012 for the assessment year 2008-09. 2. The assessee has raised following grounds of appeal: "1. That the assessment order as well as the order of the Ld. CIT(A), Amritsar are both against the facts of the case & untenable in law. 2. That the A.O. has grossly erred in making an addition of Rs. 5,12,239/- by taking estimated profit @ 8% ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... were fully supported by vouchers maintained by the assessee. The authorities below have not pointed out any omission or commission and no defects whatsoever either in the purchases or sales have been pointed out by them and the books of accounts are duly maintained and no defect whatsoever was ever pointed out by the AO except general rejection. Thus, the books of accounts cannot be rejected and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ges register/muster roll were produced by the assessee. The assessee was not maintaining stock register. The AO rejected the books of account and applied Net Profit rate of 8% following 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 and made the addition of Rs. 5,12,239/-. 4. On appeal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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. Therefore, we find no infirmity in the order 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 ra ..... X X X X Extracts X X X X X X X X Extracts X X X X
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