COMMISSIONER OF INCOME TAX-21 Vs. RAJENDER SINGH

JUDGEMENT

(1.) THE ITAT's order impugned in the present appeal by the revenue under Section 260A of the Income Tax Act, 1961 confirmed the order of the CIT(A). The A 0 had contrary to the assessee's case, rejected the books of account and assessed the income at Rs. 1,17,92,350/ -.

(2.) THE assessee was engaged in the construction business and claimed various expenses as well as credits. In the course of assessment, the A 0 issued notices under Section 133(6). The said parties did not respond. The amounts claimed against them were added and the A 0 proceeded to reject the books of accounts and apply the net profit rate of 5% of gross receipts. The CIT(Appeals), after considering the submissions of the parties held as follows :