AKM ERECTORS,ERNAKULAM vs. COMMISSIONER OF INCOME TAX, KOCHI, KOCHI
In the result, the appeals filed by the assessee stand partly allowed
ITA 185/COCH/2025[2016-2017]Status: DisposedITAT Cochin13 May 2025AY 2016-2017
Bench: Shri George George K., Vp & Shri Inturi Rama Rao, Am
For Appellant: Smt. Parvathy Ammal, CAFor Respondent: Smt. Leena Lal, Sr. D.R
Section 139(1)Section 142(1)Section 147Section 148Section 44A
u/s. 148 of the Act by treating the entire contract receipts as income of the appellant. No doubt, the AO was justified in resorting to best judgement assessment. However, the approach adopted by the AO in taxing the entire contract receipts as taxable income is unreasonable and arbitrary. Even in the case of best judgement assessment, assessment of income should
