9911796707
TMI Blog2019 (7) TMI 1154X X X X Extracts X X X X X X X X Extracts X X X X ..... he ITAT did in this case was to correct the error evident on the face of the record, in the Revenue s appeal, evident in CIT (A) order. The Court is also satisfied that the main ground of the assessee of denial of opportunity to appear before the ITAT, is unpersuasive and cannot be accepted. A notice of hearing clearly was served on 24.07.2013; the hearing was to take place on 02.09.2013. There is no document relied upon by the assessee to show that he was incapacitated; he was prevented from instructing his counsel to appear before the ITAT on the date of hearing fixed for that purpose on which he was aware. For these reasons, the ground of denial of opportunity is also unsubstantiated. The Court is of the opinion that the ITAT s fin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ooks and found various discrepancies. As a consequence, the books of accounts were rejected and applying the pattern of previous return years, which were accepted by the Revenue, the Gross Profit Margin and profit rate were imposed for calculating the tax liability; the assessment was completed of ₹1,32,74503/-. 3. The assessee carried this order in appeal; the CIT (Appeals), exhaustively listed the grounds of appeal i.e. the grievances lodged and then concluded in favour of the assessee in the following terms :- 3.3 I have considered the submissions of the appellant as well as the findings of the A.O., given in the assessment order. It appears that the defects pointed out in the books of account i. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e has been accepted by the A.O., there is no reason for invoking the provisions of section 145(3) of the I.T. Act and therefore the rejection of books of account u/s.145(3) of the I.T. Act in the case of the appellant is held to be unjustified. 4. The ITAT which was approached by the Revenue, considered the entire record and noticed that the books of accounts in this case were not reliable. The assessee s returns had relied upon the books of accounts to declare the net profit margin at 0.52% - with the corresponding gross profit margin of 3.50%. Furthermore, it is evident that as against the turn over reported for the concerned assessment year i.e. AY 2009-10, which were ₹30,54,48,903/-, and the gross profit declar ..... X X X X Extracts X X X X X X X X Extracts X X X X
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