Rajendrakumar Lahoti v. DCIT

Rajendra R Malpani, Latur vs. Assistant Commissioner of Income Tax, Latur

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

…tion of Rs.10 lakh. The ld. Counsel also opposed the order of the CIT(A) where the CIT(A) relied on certain decisions which are factually different. Referring to the cited Hon’ble Rajasthan High Court’s judgement in the case of Rajendra Kumar Lahoty vs. DCIT, 266 ITR 621, ld. Counsel submitted that in that case there are material available on record to permit the Assessing Officer to visit the books of account and proceeded for estimation. Without prejudice, ld. Counsel submitted that estimation at the rate of 50% of Rs.10 lakh may be restricted. 7. On the other hand, ld. DR for the Revenue relied heavily on the…