9911796707
TMI Blog2012 (7) TMI 787X X X X Extracts X X X X X X X X Extracts X X X X ..... 9 - - - Dated:- 1-6-2012 - SHRI G.C.GUPTA AND SHRI A. MOHAN ALANKAMONY, JJ. Assessee by : Shri Mukesh M. Patel, A.R. Revenue by : Shri Rahulkumar Sr. D.R. O R D E R PER SHRI G.C.GUPTA, VICE PRESIDENT (AZ): These appeals by the Assessee and the Revenue for the Asst.Year 2006-07 are directed against the orders of the Learned CIT(Appeals)- Gandhinagar dated 02/04/2009 (for ITA Nos.2241 2194/Ahd/09) and dated 14/01/2010 (for ITA No.1056/Ahd/10). These are being disposed of with this consolidated order. [A] ITA No.2241/Ahd/2009 (Assessee s appeal) 2. The only issue in the grounds of appeal of the assessee is regarding the validity of the order of the Assessing Officer and of CIT(Appeals) in rejecting the acco ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... reasons for the rejection of accounts of the assessee and directing the Assessing Officer to re-compute the net profit @ 4% of the turnover of the assessee was made. He relied on the orders of the Assessing Officer and the Learned CIT(Appeals). 4. We have considered the rival submissions and perused the orders of the Assessing Officer and the Learned CIT(Appeals). We find that the facts of the case do not justify the rejection of accounts of the assessee in this case. Merely because there was a fall in net profit rate, there is no reason to reject the books of account of the assessee. The case law cited by the ld.counsel for the assessee supports the case of the assessee. The difference in TDS figures as per certificates and as per books ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 3 of the appeal of the assessee are allowed and the trading addition made by the Assessing Officer is deleted. [B] ITA No.2194/Ahd/2009 (Revenue s appeal) 5. The only effective ground is as under:- 1. The Ld.CIT(A) was not justified in directing to take the Net Profit @ 4% on the declared receipts of Rs.4,29,47,624/-. 5.1. We have heard the parties. The issue of Net Profit rate applied @ 4% on the turnover of the assessee is covered in favour of the assessee with our decision in the above paragraphs of this order while disposing of assessee s appeal for Assessment Year 2006-07, wherein held that the rejection of books of account of the assessee was not valid and, accordingly, there is no merit in the ground of appeal of the Rev ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
