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TMI Blog2018 (12) TMI 1393X X X X Extracts X X X X X X X X Extracts X X X X ..... tunity of cross-examination was not given only because the AO was running short of time to complete the account. It further holds that the net profit rate of 11 % the entire purchases made during the year was applied by the CIT (A) to determine the addition. Thus, the Tribunal restricted to only 11% out of the purchases of ₹ 3.09 crores made from the seven parties. This in view of the fact t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... igning any specific reason when it accepts the rejection of books under Section 145 of the Act? 3. The respondent is carrying on business of Civil Contractor. For the subject assessment year, the respondent filed its return of income declaring its income of ₹ 36.34 lakhs. The assessment was finalized by order dated 28th February, 2013 under Section 143(3) of the Act determining the incom ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rieved by order dated 1st November, 2013, the respondent filed an appeal to the Tribunal. The impugned order dated 22nd July, 2015 of the Tribunal noted that it was the case of the respondent that all purchases were made by payment through Banks an opportunity to cross-examine sought by the respondent ought to have been given. This opportunity of cross-examination was not given only because the As ..... X X X X Extracts X X X X X X X X Extracts X X X X
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