AJAY KAPOOR Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) This appeal is directed against the order dated 30th Sept., 2016 passed by the Income-tax Appellate Tribunal, Amritsar Bench (hereinafter to be referred to as the Tribunal') in MA No. 13/Asr/2016 arising out of ITA No. 595/Asr/2013 whereby the miscellaneous application filed by the appellant in terms of section 254(2) of the IT Act, 1961 (hereinafter to be referred to as the 'Act') against the order dated 14th Feb., 2014 passed in ITA No. 595/Asr/2013, has been dismissed.

(2.) This appeal was admitted by this Court vide order dated 7th Dec., 2017 on the following substantial question of law :

(3.) The facts giving rise to the filing of this appeal, briefly stated, are that for the asst. yr. 2010-11, the assessing authority made the best judgment assessment in terms of section 144 of the Act against the appellant on 26th March, 2013 by applying the net profit rate of 10 per cent on the gross receipts. A sum of Rs. 22 lacs was also added to the income of the appellant under section 68 of the Act.