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TMI Blog2010 (9) TMI 896X X X X Extracts X X X X X X X X Extracts X X X X ..... e challenging the order of the learned CIT(A), Bikaner dated 26-4-2010 on the ground that the learned first appellate authority should have appreciated that the case of the assessee is squarely covered under section 44AD of the Act, as the receipts are less than Rs. 40,00,000 and the profit is more than 8 per cent. As such, the addition, sustained by the learned CIT(A) is unjustified. 2. Durin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... T(A). The crux of the submissions is that net profit rate of 8.15 per cent can be applied which will meet the ends of justice. On the other hand, the learned Departmental Representative, though defended the assessment order, but did not controvert the factual matrix asserted by the learned counsel for the assessee. 3. We have considered the rival submissions and perused the material available ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f 8.15 per cent. Even otherwise, if the history of the assessee is analyzed, the net profit rate of 8.15 per cent will meet the ends of justice which will take care of every addition. Since the rate of 8.15 per cent is found justified, therefore, no separate addition can be made for work-in-progress, as the work-in-progress is also the part of the business. Consequently, the learned Assessing Offi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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