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TMI Blog2018 (9) TMI 1327X X X X Extracts X X X X X X X X Extracts X X X X ..... ubstantial question of law arises for consideration. - I.T.A. No. 99/2018 - - - Dated:- 18-9-2018 - Sanjay Yadav And Vivek Agarwal JJ. For the Appellant : None ORDER Perused the case. This appeal under Section 260A of the Income Tax Act, 1961 against the judgment/ order dated 25/01/2018 passed by the Income Tax Appellate Tribunal, Agra in I.T.A. No. 344/AGR/2015 on the following proposed substantial question of law:- (i) Whether the order passed by learned Income Tax Appellate Tribunal holding the provisions of section 145(3) of the Income Tax Act having correctly applied is perverse, erroneous in law as well as contrary to the established judicial principles. (ii) Whether in the absence of any material evidenc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o office expenses and general expenses were not produced. Nor the explanation qua Rs.7,91,168/- on employees recruitment was produced. The overhead expenses on Car (Rs.1,36,534/-), Crane (Rs.1,61,400/-), freight and carrier (Rs.10,87,138/-), fuel (Rs.4,05,895/-), JCB machine (Rs.5,71,360/-) were not verifiable. These deficiencies resulted in disallowance of books of accounts. The Assessing Officer applied a net profit rate of 8% on the total gross receipts and assessed the income accordingly. Modifiying the order, the Commissioner of Income Tax (Appeals) disallowed ₹ 1 Lac out of various expenses and selected the remaining addition on the finding that the defects being minor ought not to have led to rejection of book results ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y the Income Tax Authorities for doing so, and we see no reason to take a different view. 10. It is well settled that in a best judgment assessment there is always a certain degree of guess work. No doubt the authorities concerned should try to make an honest and fair estimate of the income even in a best judgment assessment, and should not act totally arbitrarily, but there is necessarily some amount of guess work involved in a best judgment assessment, and it is the assessee himself who is to blame as he did not submit proper accounts. In our opinion there was no arbitrariness in the present case on the part of the Income Tax Authorities. Thus, there is no force in this appeal, and it is dismissed accordingly. No costs. In M. Ja ..... X X X X Extracts X X X X X X X X Extracts X X X X
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