Estimation of income in case of civil contract work at 6% of gross receipt is just where 80% of amount was towards purchase of material

IN THE ITAT CUTTACK BENCH Girish Chandra Nayak versus Income-tax Officer IT Appeal NoS. 269, 377 & 378 (Ctk.) of 2012 C.O. No. 29 (Ctk.) of 2012 [Assessment yearS 2007-08 & 2008-09] September 28, 2012 ORDER K.K. Gupta, Accountant Member ITA No.378/CTK/2012 filed by the assessee and ITA No.269/CTK/2012 filed by the Revenue are against order dt.20.1.2012 of the Commissioner of Income-tax (Appeals). The assessee has also filed Cross Objection No.29 in ITA No.269/CTK/2012 filed by the Revenue supporting the impugned order of the learned CIT(A) on the issue raised by the Re...