Tribunal held that, in the course of survey incriminating material was found indicating unaccounted sale of flats -Rejection of books of account and estimation of income at 11 percent of gross sales is held to be justified. (AY.2012-13)
Golla Narayana Rao v. ACIT (2019) 174 ITD 67 / 176 DTR 201/ 198 TTJ 407(Vishakha)(Trib.)
S. 145 : Method of accounting-Survey-In the course of survey incriminating material was found indicating unaccounted sale of flats -Rejection of books of account and estimation of income at 11 percent of gross sales is held to be justified. [S.69]