In such facts and circumstances, it was held by the Hon'ble Gujarat High
Court in the case of CIT (IT & TP) Vs. Shandong Tiejun Electric Power Engineering
Co. reported in 86 Taxmann.com 274, that profit under section 44BBB(1) cannot
be determined without pointing out any defect in the books of accounts of the
assessee. The relevant extract of the judgement is reproduced as under:
To support his
contentions, he placed reliance on the decision in the case of CIT vs. Shandong
Tiejun Electric Power Engineering Co. 86 taxmann.com 274 (Guj.). The ld. Counsel
submitted that the assessee has prima facie good case on merits as well as on
jurisdictional issue.
To support his
contentions, he placed reliance on the decision in the case of CIT vs. Shandong
Tiejun Electric Power Engineering Co. 86 taxmann.com 274 (Guj.). The ld. Counsel
submitted that the assessee has prima facie good case on merits as well as on
jurisdictional issue.
To support his
contentions, he placed reliance on the decision in the case of CIT vs. Shandong
Tiejun Electric Power Engineering Co. 86 taxmann.com 274 (Guj.). The ld. Counsel
submitted that the assessee has prima facie good case on merits as well as on
jurisdictional issue.
To support his
contentions, he placed reliance on the decision in the case of CIT vs. Shandong
Tiejun Electric Power Engineering Co. 86 taxmann.com 274 (Guj.). The ld. Counsel
submitted that the assessee has prima facie good case on merits as well as on
jurisdictional issue.
To support his
contentions, he placed reliance on the decision in the case of CIT vs. Shandong
Tiejun Electric Power Engineering Co. 86 taxmann.com 274 (Guj.). The ld. Counsel
submitted that the assessee has prima facie good case on merits as well as on
jurisdictional issue.
To support his
contentions, he placed reliance on the decision in the case of CIT vs. Shandong
Tiejun Electric Power Engineering Co. 86 taxmann.com 274 (Guj.). The ld. Counsel
submitted that the assessee has prima facie good case on merits as well as on
jurisdictional issue.