AO’s 6% Profit Estimation Upheld -Difference of Opinion on Estimation Not Enough

Kadalur Ramakrishna Mahesha Vs PCIT (ITAT Bangalore) AO’s 6% Profit Estimation Upheld -Difference of Opinion on Estimation Not Enough – Bang Trib Tribunal Rejects 263 Revision- PCIT Cannot Substitute His View for AO’s – ITAT Applies SC Rulings on 263 Assessee is a civil contractor & did the contract works to the various Govt. agencies & received the payment through the Banking channels. The Government deducted the TDS amount u/s. 194C which was also duly reflected in Form 26AS. Assessee filed his return of income in Form ITR 2 even though his income comprises of business income...