Indwell Constructions v. CIT

232 ITR 776High Court1998#500 most cited

What is Indwell Constructions v. CIT authority for?

When an assessee's income is estimated after rejecting their books of account, further additions or disallowances for specific expenses are generally not permissible, as the estimation already accounts for these.

188

judgments rely on this decision, according to BharatTax’s citation analysis of 366,470 Indian tax judgments — from 2015 to 2026.

Also referred to as

Indwell Constructions v. CIT · 232 ITR 776 · rejection of books of account · estimation of income · net profit rate · disallowance of expenses · section 145(3) · business income · gross profit rate

Sections most often in play

Section 143(3)Section 145(3)Section 153ASection 132(4)Section 132Section 40(a)(ia)Section 68Section 144

Issues it is cited on

section 132(3)section 108section 10brejection of books of accountsection 30section 145(3)section 142(2a)section 145on-moneysection 132(4a)section 29dumb documents

Judgments citing Indwell Constructions v. CIT

Tanvi Foods (India) Limited (Previously Known As Tanvi Foods(India) Pvt Limited, Hyderabad vs. Income Tax Officer, Ward-2(4), Hyderabad

In the result, the appeal of the assessee is allowed

ITA 652/HYD/2018[2015-16]Status: DisposedITAT Hyderabad12 May 2021AY 2015-16

Bench: Shri Satbeer Singh Godara & Shri Laxmi Prasad Sahu

For Appellant: Shri S. Rama RaoFor Respondent: Shri Sunil Kumar Pandey
Section 133ASection 143(3)Section 251(1)(a)Section 80l

…ring any expenditure. (ii) Once the books of account are rejected, it is trite law that no further additions can be made from the same books of account. In support of the contentions the AR relied upon the following case laws:- i. Indwell Constructions Vs CIT 232 ITR 776 (AP High Court). ii. M/s. Teja Constructions Vs ACIT 39 SOT 13 (ITAT, Hyderabad). iii. Malpani House of Stones Vs CIT, Jaipur ITA No.35/2003, dt. 04.10.2016 (Rajasthan High Court). 12 I.T.A. Nos. 650 to 652/Hyd/2018 Tanvi Foods (India) Ltd., Hyd. (iii) The AO accepted the total turnover as receipts from business and therefore, the issue of cons…

Tanvi Foods (India) Limited (Previously Known As Tanvi Foods(India) Pvt Limited, Hyderabad vs. Income Tax Officer, Ward-2(4), Hyderabad

In the result, the appeal of the assessee is allowed

ITA 651/HYD/2018[2014-15]Status: DisposedITAT Hyderabad12 May 2021AY 2014-15

Bench: Shri Satbeer Singh Godara & Shri Laxmi Prasad Sahu

For Appellant: Shri S. Rama RaoFor Respondent: Shri Sunil Kumar Pandey
Section 133ASection 143(3)Section 251(1)(a)Section 80l

…ring any expenditure. (ii) Once the books of account are rejected, it is trite law that no further additions can be made from the same books of account. In support of the contentions the AR relied upon the following case laws:- i. Indwell Constructions Vs CIT 232 ITR 776 (AP High Court). ii. M/s. Teja Constructions Vs ACIT 39 SOT 13 (ITAT, Hyderabad). iii. Malpani House of Stones Vs CIT, Jaipur ITA No.35/2003, dt. 04.10.2016 (Rajasthan High Court). 12 I.T.A. Nos. 650 to 652/Hyd/2018 Tanvi Foods (India) Ltd., Hyd. (iii) The AO accepted the total turnover as receipts from business and therefore, the issue of cons…

Tanvi Foods (India) Limited (Previously Known As Tanvi Foods(India) Pvt Limited, Hyderabad vs. Income Tax Officer, Ward-2(4), Hyderabad

In the result, the appeal of the assessee is allowed

ITA 650/HYD/2018[2013-14]Status: DisposedITAT Hyderabad12 May 2021AY 2013-14

Bench: Shri Satbeer Singh Godara & Shri Laxmi Prasad Sahu

For Appellant: Shri S. Rama RaoFor Respondent: Shri Sunil Kumar Pandey
Section 133ASection 143(3)Section 251(1)(a)Section 80l

…ring any expenditure. (ii) Once the books of account are rejected, it is trite law that no further additions can be made from the same books of account. In support of the contentions the AR relied upon the following case laws:- i. Indwell Constructions Vs CIT 232 ITR 776 (AP High Court). ii. M/s. Teja Constructions Vs ACIT 39 SOT 13 (ITAT, Hyderabad). iii. Malpani House of Stones Vs CIT, Jaipur ITA No.35/2003, dt. 04.10.2016 (Rajasthan High Court). 12 I.T.A. Nos. 650 to 652/Hyd/2018 Tanvi Foods (India) Ltd., Hyd. (iii) The AO accepted the total turnover as receipts from business and therefore, the issue of cons…

Sri. Atul Dinesh Seth, Bangalore vs. Income Tax Officer, Ward-2(3)(3), Bangalore

In the result, all the three appeals of the assessee are partly allowed

ITA 401/BANG/2020[2012-13]Status: DisposedITAT Bangalore08 Mar 2021AY 2012-13

Bench: Shri N.V. Vasudevan & Shri Chandra Poojariita Nos.399 To 401/Bang/2020 Assessment Year: 2010-11 To 2012-13

For Appellant: Shri Ravishankar S.V., A.RFor Respondent: Shri Sunil Kumar Agarwal, D.R
Section 147Section 148Section 234ASection 69C

…. Accordingly, we are not considered the above judgement in the case ITA Nos.399 to 401/Bang/2020 Shri Atul Dinesh Seth, Bengaluru Page 7 of 7 of Delux Roadlines Pvt. Ltd. (supra). Further, assessee’s counsel relied on the judgement of Indwell Constructions 232 ITR 776 for the proposition that where the books of accounts have been rejected, revenue cannot rely on the same books for additions of an exact item in the profit & loss account. In the present case, the facts are entirely different. The assessee is not maintained any books of accounts and the income of the assessee was estimated on the basis of turnove…

Sri. Atul Dinesh Seth, Bangalore vs. Income Tax Officer, Ward-2(3)(3), Bangalore

In the result, all the three appeals of the assessee are partly allowed

ITA 400/BANG/2020[2011-12]Status: DisposedITAT Bangalore08 Mar 2021AY 2011-12

Bench: Shri N.V. Vasudevan & Shri Chandra Poojariita Nos.399 To 401/Bang/2020 Assessment Year: 2010-11 To 2012-13

For Appellant: Shri Ravishankar S.V., A.RFor Respondent: Shri Sunil Kumar Agarwal, D.R
Section 147Section 148Section 234ASection 69C

…. Accordingly, we are not considered the above judgement in the case ITA Nos.399 to 401/Bang/2020 Shri Atul Dinesh Seth, Bengaluru Page 7 of 7 of Delux Roadlines Pvt. Ltd. (supra). Further, assessee’s counsel relied on the judgement of Indwell Constructions 232 ITR 776 for the proposition that where the books of accounts have been rejected, revenue cannot rely on the same books for additions of an exact item in the profit & loss account. In the present case, the facts are entirely different. The assessee is not maintained any books of accounts and the income of the assessee was estimated on the basis of turnove…

Sri. Atul Dinesh Seth, Bangalore vs. Income Tax Officer, Ward-2(3)(3), Bangalore

In the result, all the three appeals of the assessee are partly allowed

ITA 399/BANG/2020[2010-11]Status: DisposedITAT Bangalore08 Mar 2021AY 2010-11

Bench: Shri N.V. Vasudevan & Shri Chandra Poojariita Nos.399 To 401/Bang/2020 Assessment Year: 2010-11 To 2012-13

For Appellant: Shri Ravishankar S.V., A.RFor Respondent: Shri Sunil Kumar Agarwal, D.R
Section 147Section 148Section 234ASection 69C

…. Accordingly, we are not considered the above judgement in the case ITA Nos.399 to 401/Bang/2020 Shri Atul Dinesh Seth, Bengaluru Page 7 of 7 of Delux Roadlines Pvt. Ltd. (supra). Further, assessee’s counsel relied on the judgement of Indwell Constructions 232 ITR 776 for the proposition that where the books of accounts have been rejected, revenue cannot rely on the same books for additions of an exact item in the profit & loss account. In the present case, the facts are entirely different. The assessee is not maintained any books of accounts and the income of the assessee was estimated on the basis of turnove…

Padmasri Townships Private Limited, Hyderabad vs. ITO, Ward-16(2), Hyderabad

Appeals are allowed, in above terms

ITA 370/HYD/2017[2009-10]Status: DisposedITAT Hyderabad24 Feb 2021AY 2009-10

Bench: Shri S.S.Godara & Shri Laxmi Prasad Sahuappellant Respondent

For Appellant: Shri P.Murali Mohana Rao, ARFor Respondent: Shri Sibendu Moharana, DR
Section 143(3)Section 263Section 40A(3)

…he Assessing Officer had applied 8% income element on assessee’s receipts thereby rejecting its books of accounts. :- 3 -: ITA Nos. 1226/Hyd/2015 & 370/Hyd/2017 Hon’ble jurisdictional high court’s much deliberated decision in Indwell Constructions Vs. CIT [232 ITR 776] (AP) holds that the above stated statutory provision does not come into play in case of rejection of books of accounts followed by estimation of profits. That being the case, we hold that the Assessing Officer’s action in not invoking the impugned disallowance u/s.40A(3) is neither erroneous nor prejudicial to the interest of the Revenue since t…

Padmasri Townships Pvt Ltd., Hyderabad vs. ITO, Ward-16(2), Hyderabad

Appeals are allowed, in above terms

ITA 1226/HYD/2015[2009-10]Status: DisposedITAT Hyderabad24 Feb 2021AY 2009-10

Bench: Shri S.S.Godara & Shri Laxmi Prasad Sahuappellant Respondent

For Appellant: Shri P.Murali Mohana Rao, ARFor Respondent: Shri Sibendu Moharana, DR
Section 143(3)Section 263Section 40A(3)

…he Assessing Officer had applied 8% income element on assessee’s receipts thereby rejecting its books of accounts. :- 3 -: ITA Nos. 1226/Hyd/2015 & 370/Hyd/2017 Hon’ble jurisdictional high court’s much deliberated decision in Indwell Constructions Vs. CIT [232 ITR 776] (AP) holds that the above stated statutory provision does not come into play in case of rejection of books of accounts followed by estimation of profits. That being the case, we hold that the Assessing Officer’s action in not invoking the impugned disallowance u/s.40A(3) is neither erroneous nor prejudicial to the interest of the Revenue since t…

Nilkantha Saha, Morigaon vs. Income Tax Officer, Ward-Morigaon, Morigaon

In the result, the appeal of the assessee is allowed

ITA 88/GTY/2020[2017-18]Status: DisposedITAT Guwahati17 Feb 2021AY 2017-18

Bench: Shri A. T. Varkey, Jm]

Section 133Section 133ASection 68

…ITA No. 88/GAU/2020 Nilkantha Saha A.Y. 2017-18 IN THE INCOME TAX APPELLATE TRIBUNAL GAUHATI BENCH: GUWAHATI “VIRTUAL HEARING” AT KOLKATA [Before Shri A. T. Varkey, JM] I.T.A. No. 88/Gau/2020 Assessment Year: 2017-18 Nilkantha Saha Vs. ITO, Ward-Morigaon, Morigaon (PAN: AHPPS4207H) Appellant Respondent Date of Hearing (Virtual) 15.01.2021 Date of Pronouncement 17.02.2021 For the Appellant Shri Akkal Dudhwewala, A.R For the Respondent Shri Arup Chatterjee, Addl. CIT ORDER This is an appeal preferred by the assessee against the order of Ld. CIT(A)- Guwahati-1, dated 02.03.2020 for A.Y. 2017-18. 2. The sole…

The Assistant Commissioner of Income Tax, Circle-2(1), Vijayawada vs. Smt. Dhulipudi Saroja Ramesh, Vijayawada

In the result, appeal filed by the Revenue Department stands dismissed

ITA 603/VIZ/2019[2014-2015]Status: DisposedITAT Visakhapatnam12 Feb 2021AY 2014-2015

Bench: Shri N.K. Choudhry, Hon’Ble & Shri D.S. Sunder Singh, Hon'Ble

For Appellant: Shri C.Subrahmanyam, FCAFor Respondent: Shri T.S.N. Murthy, CIT DR
Section 143(3)Section 250(6)Section 37(1)

…d loan. The AO disallowed the interest paid on gold loan to the tune of Rs. 3,84,184/- which was debited to the profit & loss account. The ld. CIT(A) by following the decision of the Hon'ble A.P. High Court in the case of Indwell Constructions Vs. CIT [(1998) 232 ITR 776] held that no separate disallowance of the gold loan interest debited to the P & L A/c. can be made once the Books of account of the Assessee have been rejected and business income has been directed to be estimated at 8% of the turnover, hence the AP is directed to delete the disallowance of gold loan interest of Rs.3,84,184/- made in the Assessm…

ACIT, C-7, Ludhiana vs. M/S Ceigall India Ltd., Ludhiana

In the result appeal of the Department is partly allowed for statistical purposes and the Cross Objection of the assessee is dismissed

ITA 291/CHANDI/2019[2014-15]Status: DisposedITAT Chandigarh19 Nov 2020AY 2014-15

Bench: The Appeal Is Finally Heard Or Disposed Off.

For Appellant: Shri Sudhir Sehgal, AdvocateFor Respondent: Smt. C. Chandrakanta, CIT
Section 133ASection 145(3)Section 69C

…ejected and income of the assessee was determined by applying the net profit rate on the turnover disclosed by the assessee then no further addition was required to be made. The reliance was placed on the following case laws: • Indwell Constructions Vs. CIT [232 ITR 776] (AP) • CIT Vs. Banwari Lal Banshidhar [229 ITR 229] (All) • Shri Kashmir Singh Cont. in ITA No. 844/Chd/2009 for A.Y. 2006-07(ITAT Chd) 26. We have considered the submissions of both the parties and perused the material available on the record. In the present case it is an admitted fact that the income of the assessee is determined by the AO as…

Shri Bipinchandra Hiralal Thakkar, Surat vs. The Income Tax Officer, Ward-1(2)(6), Surat

In the result, the appeal filed by the assessee is allowed

ITA 2126/AHD/2016[2013-14]Status: DisposedITAT Surat16 Oct 2020AY 2013-14

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकरअपीलसं./Ita No.2126/Ahd/2016 ("नधा"रणवष" / Ay.: (2013-14) Shri Bipinchandra Hiralal Thakkar, Vs. Income Tax Officer, Plot No.60/61, Hari Ichha Society, Ward-1(2)6, Surat. Udhna Bhestan Road, Surat-394210. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aawpt1432D (Assessee) (Respondent)

For Appellant: Shri Rasesh Shah- CAFor Respondent: Miss Anupama Singla – Sr. DR
Section 143(3)Section 194ASection 40Section 44A

…44AD of the Act itself such as allowance of interest and remuneration to partners in the case of a partnership firm. Reliance is placed in this regard on the decision of Hon'ble Andhra Pradesh High Court in the case of Indwell Constructions vs CIT reported in 232 ITR 776 (AP), wherein Lordships had held as under :- "The pattern of assessment under the Income-tax Act, 1961, is given by section 29 which states that the income from profits and gains of business shall be computed in accordance with the provisions contained in sections 30 to 43D of the Act. Section 40 provides for certain disallowances in certain case…

ACIT, Circle-49(1), Kolkata vs. Bablu Das, North 24 Parganas

Appeal is dismissed

ITA 965/KOL/2017[2012-13]Status: DisposedITAT Kolkata22 Nov 2019AY 2012-13

Bench: Shri S.S.Godara & Dr. A.L. Sainiassessment Year :2012-13

Section 133(6)Section 144Section 145(3)Section 40

…econdly, once net profit of the business is estimated any further disallowance either u/s 40(a)(ia) or u/s 37(1) cannot be made. In support of his proposition, assessee has relied upon the following judgements/decisions: a) Indwell Constructions vs CIT (1998) 232 ITR 776 (AP H.C) b) Dabros Industrial Co. Pvt. Ltd. vs CIT (1997) 108 ITR 424 (Calcutta H.C) ITA No.965/Kol/2018 A.Y. 2012-13 ACIT Cir-49(1), Kol. Vs. Bablu Das Page 4 c) Cir vs Banwarilal Bansidhar (1998) 229 ITR 229 (Allahabad H.C.) d) Cosmopolian Trading Corporation vs ITO, ITA No.298/JP/20 13 (ITAT Jaipur). e) CIT, Kolkata-XVII, vs Shri Arjun Bhowmi…

Kalpataru Electricals, Kolkata vs. ITO, WD-50(1), Kolkata

In the result, the appeal of the assessee is partly allowed

ITA 759/KOL/2015[2004-2005]Status: DisposedITAT Kolkata27 Sept 2019AY 2004-2005

Bench: "ी जे. सुधाकर रे"डी, लेखा सद"य एवं/And "ी ऐ. ट". वक", "यायीक सद"य) [Before Shri J. Sudhakar Reddy, Am & Shri A. T. Varkey, Jm]

Section 133ASection 143(1)Section 144Section 147Section 148

…e the books of account of the assessee were rejected by the AO, then he should have only estimated the profits of the assessee. For this proposition of ours, we rely on the order of the Hon’ble Andhra Pradesh High Court in Indwell Constructions Vs. CIT (1998) 232 ITR 776 (AP), wherein the Hon’ble High Court has held as under: “The pattern of assessment under the Income-tax Act is given by section 29 which states that the income from profits and gains of business shall be computed in accordance with the provisions contained in sections 30 to 43D. Section 40 provides for certain disallowances in certain cases notw…

Shri Nitin Raj Jain, Jaipur vs. Income Tax Officer, Jaipur

In the result, appeal of the assessee is partly allowed

ITA 69/JPR/2018[2012-13]Status: DisposedITAT Jaipur13 May 2019AY 2012-13
For Appellant: Shri Manish Agarwal (CA)For Respondent: Shri Varinder Mehta (CIT)
Section 131Section 142(1)Section 145(3)Section 68

…as made an adhoc addition of expenses which were confirmed by the ld. CIT (A) which is not permissible under the law. In support of his contention, he has relied upon the decision of Hon’ble Andhra Pradesh High Court in case of Indwell Constructions vs. CIT, 232 ITR 776 (AP). The ld. A/R has further submitted that the disallowance was made solely on the presumption without giving a finding that the claim of expenses was on higher side, therefore, such disallowance on ad hoc basis is not justified when the assessee has declared the turnover of Rs. 10.53 crores during the year under consideration. 8. On the ot…

M/S. Raj Buildcon Construction Ltd., Gurgaon vs. JCIT, Gurgaon

In the result, the appeal of the assessee is allowed partly for statistical purposes

ITA 2422/DEL/2015[2010-11]Status: DisposedITAT Delhi29 Apr 2019AY 2010-11

Bench: Shri Bhavnesh Saini & Shri O.P. Kantassessment Year: 2010-11 M/S. Raj Buildcon Vs. Jcit(A), Construction Ltd., Range-Ii, Gurgaon (Haryana) 404, Welldone Tech Park, Sector-48, Sohna Road, Gurgaon (Haryana) Pan :Aadcr6387F (Appellant) (Respondent) Appellant By Shri Rohit Tiwari, Adv. Respondent By Smt. Rinku Singh, Sr.Dr

Section 143(3)Section 145(3)Section 3

…sions of Section 145(3) of the Income Tax Act, the appellant is not entitled to any further deduction as per provisions of Section 30 to Section 43D of the Income Tax Act. 5.6.1 The Hon'ble Andhra Pradesh High Court in the case of Indwell Constructions vs CIT 232 ITR 776 (A.P) (1998) have discussed this issue in great detail which provides invaluable insight into this issue. The relevant extracts of the said order are reproduced here under: "The computation under s. 29 is to be made under s. 145 on the basis of the books regularly maintained by the assessee. If those books are not correct or complete, the TTO may…

The Dy. Commissioner of Income-Tax, Jammu vs. M/S. Continental Construction Co, Jammu ( J&K)

In the result, the appeal filed by the assessee is allowed as well as the appeal filed the Revenue Department is dismissed and Cross Objection also stands disposed off

ITA 27/ASR/2013[2009-10]Status: DisposedITAT Amritsar18 Jan 2019AY 2009-10

Bench: Sh. Sanjay Arora & Sh. N.K.Choudhryita No.38(Asr)/2013 Assessment Year:2009-10

For Appellant: Sh. R.L. Gupta (Ld. Adv.)For Respondent: Sh. Charan Dass (Ld. DR)
Section 142(1)Section 250(6)Section 32(1)Section 36(1)(iii)Section 40Section 40A(3)Section 68

…ash in violation of Sec.40A(3), The issue under consideration dealt with by following Courts:- i) Andhra Pradesh High Court in the case of Maddi Sudharshanam Oil Mills Vs CIT {1959} 37 ITR 369(AP). ii) Andhra Pradesh High Court in Indwell Construction Vs CIT 232 ITR 776(A), followed the decision of High Court in Maddi Sudharshanam Oil Mills Vs CIT(supra) ITA Nos.38 & 27/Asr/2013, C.O No.35(Asr)/2014 5 (Asst. Year: 2009-10) M/s Continental Construction Co., Jammu v. DCIT iii) ITAT Bench at Amritsar in the case of ACIT Vs J.S. Grover Construction {ITA no. 63/ASR/2016 decided on 26/08/2016} followed the decisi…

M/S. Continental Construction Co., Jammu vs. The Dy. Commissioner of Income-Tax (Hqrs), Jammu

In the result, the appeal filed by the assessee is allowed as well as the appeal filed the Revenue Department is dismissed and Cross Objection also stands disposed off

ITA 38/ASR/2013[2009-10]Status: DisposedITAT Amritsar15 Jan 2019AY 2009-10

Bench: Sh. Sanjay Arora & Sh. N.K.Choudhryita No.38(Asr)/2013 Assessment Year:2009-10

For Appellant: Sh. R.L. Gupta (Ld. Adv.)For Respondent: Sh. Charan Dass (Ld. DR)
Section 142(1)Section 250(6)Section 32(1)Section 36(1)(iii)Section 40Section 40A(3)Section 68

…ash in violation of Sec.40A(3), The issue under consideration dealt with by following Courts:- i) Andhra Pradesh High Court in the case of Maddi Sudharshanam Oil Mills Vs CIT {1959} 37 ITR 369(AP). ii) Andhra Pradesh High Court in Indwell Construction Vs CIT 232 ITR 776(A), followed the decision of High Court in Maddi Sudharshanam Oil Mills Vs CIT(supra) ITA Nos.38 & 27/Asr/2013, C.O No.35(Asr)/2014 5 (Asst. Year: 2009-10) M/s Continental Construction Co., Jammu v. DCIT iii) ITAT Bench at Amritsar in the case of ACIT Vs J.S. Grover Construction {ITA no. 63/ASR/2016 decided on 26/08/2016} followed the decisi…

I.T.O WD - 1(1), Kolkata vs. M/S Sanwaria Steel Pvt Ltd., Howrah

In the result, the appeal of the Revenue is dismissed

ITA 2131/KOL/2013[2007-08]Status: DisposedITAT Kolkata30 Nov 2018AY 2007-08

Bench: Shri P.M. Jagtap, Vice-(Kz) & Shri S.S. Viswanethra Ravi

Section 145Section 40Section 43BSection 68Section 69

…sessee were rejected and the income of the assessee was determined on estimated basis by applying net profit rate. To arrive at this conclusion, he relied on the decision of the Hon’ble Andhra Pradesh High Court in the case of Indwell Constructions –vs.- CIT [232 ITR 776] and that of the Hon’ble Allahabad High Court in the case of CIT –vs.- Banwarilal Banshidhar [229 ITR 229]. Aggrieved by the order of the ld. CIT(Appeals), the Revenue has preferred this appeal before the Tribunal. 4. We have heard the arguments of both the sides and also perused the relevant material available on record. It is observed that the…

ACIT, Cir-44, Kolkata vs. Shri Shiw Binod Gupta, Kolkata

In the result the appeal of the revenue stands dismissed

ITA 964/KOL/2015[2010-2011]Status: DisposedITAT Kolkata29 Oct 2018AY 2010-2011

Bench: Shri A. T. Varkey, Jm & M.Balaganesh, Am]

Section 133A

…rofit earned by the assessee on the overall sales. We find that this proposition is duly supported by the following judgments: - CIT vs. Agarwal Engg& Co. Ltd (302 ITR 246) (P&H HC) - CIT Vs B.N. Muttin (388 ITR 608) (Kar HC) - Indwell Constructions Vs. CIT (232 ITR 776) (AP HC) 9. Considering the above decisions and the facts of the case before us, we do not find any infirmity in the order of the Ld. CIT(A)holding that no further additions/ disallowance on account of specific item of expenses is permissible when the Gross profit rate of gross receipts are applied after rejecting the books of account of the ass…