Case Law Details
Case Name : Income Tax Officer Vs M/s. St. Joseph Construction (ITAT Kolkata)
Related Assessment Year : 2008-2009
Courts :
All ITAT ITAT Kolkata
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ITO Vs M/s. St. Joseph Construction (ITAT Kolkata)- Ld. CIT(Appeals) after considering the assessee’s submissions directed the Assessing Officer to reject the books of accounts of the assessee-firm since the assessee had concealed huge contractual receipts to the tune of Rs. 54,55,543/-. He also directed the Assessing Officer to estimate the profit @ 8% on the entire receipts of Rs. 1,12,29,347/- equivalent to Rs. 8,98,348/-, net of all expenses including salary and interest payments to partners.
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