ITA No.94/Hyd/2017. Case: Late Shri Mushkam Sudershan Goud Vs Income Tax Officer Ward â 1. ITAT (Income Tax Appellate Tribunal)
| Case Number | ITA No.94/Hyd/2017 |
| Counsel | For Assessee : Shri K. Hanmandlo, Adv. and For Revenue : Smt. Suman Malik, DR |
| Judges | Smt. P. Madhavi Devi, Judicial Member and Shri B. Ramakotaiah, Accountant Member |
| Issue | Direct Tax |
| Judgement Date | Friday April 28, 2017 |
| Court | ITAT (Income Tax Appellate Tribunal) |
Order:
Smt. P. Madhavi Devi, J.M., (Hyderabad ''A'' Bench)
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This is assessee''s appeal for the A.Y 2013-14. In this appeal, the assessee is aggrieved by the order of the CIT(A) in estimating the profit at 5% of the stock put to sale.
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Brief facts of the case are that the assessee, an individual and liquor dealer, filed his return of income admitting a total income of Rs.4,62,410 on 30.10.2013. During the assessment proceedings u/s 147 of the Act, the AO observed that the assessee''s books of account are not verifiable. He therefore, rejected the books and proceeded to estimate the income of the...
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