NANDIGAM VEERABRAHMAM,RAJAHMUNDRY vs. INCOME TAX OFFICER, WARD-2(1), RAJAHMUNDRY

In the result, the appeal of the assessee is allowed in terms of our aforesaid observations

Bench: Us:

145(3) of the Act, and framed the assessment to the best of his judgment, wherein the net profit of the assessee was estimated @ 8% of his declared turnover of Rs. 4,38,65,617/- determining the same at Rs. 35,09,250/-. Accordingly, the A.O. vide his order 5 N. Veerabrahmam passed u/s 147 r.w.s 144 r.w.s 144B

DCIT 7(3), MUMBAI vs. VIZAG SEAPORT P.LTD, MUMBAI

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