The Assessee has not maintained the books of account and disclosed 8 Per Cent. of gross receipts as income from contract works and other sources. Form No, 26AS has showed additional income which is confirmed by the payee. The Assessing Officer estimating the income at 8 Per Cent. of gross profit which included undisclosed income. Revision application of the assessee is dismissed by Commissioner. High Court dismissed the writ against the revision application. (AY.2011-12)
Amresh Kumar v. PCIT (2023)459 ITR 356 /154 taxmann.com 221 (Jharkhand)(HC) Editorial: SLP dismissed, Amresh Kumar v. PCIT (2023)459 ITR 364 / 295 Taxman 1 (SC)
S. 264 : Commissioner-Revision of other orders-Undisclosed income — Not maintaining the books of account-Contract works and other sources-Tax deduction at source-Form No 26AS showing the additional income-Payee confirming the payments-8% gross profit is estimated including the undisclosed income-Rejection of revision order is affirmed by High Court. [S. 133(6), 143(3), Form No. 26AS, Art. 226]