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TMI Blog2014 (1) TMI 1762X X X X Extracts X X X X X X X X Extracts X X X X ..... ntioning further deduction on account of depreciation, interest and remuneration paid to partners. It is likely to set a wrong precedent in assessee's own case which may lead to complexities sometimes in future. Since there is no difference between the findings of the ld. CIT(A) in this year vis-a-vis earlier assessment years. However, the objection of the assessee seems to be justified. Therefore, we amend the later part of the findings of the ld. CIT(A) where he adopted the net profit rate of 5.12% on total contract receipts allowing depreciation, interest and remuneration paid to partners. In our considered opinion, the law demands consistency to avoid any future misunderstanding and to keep the findings in the same manner we hold that n ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ncome. 2.3 The Revenue has raised the solitary ground as under:- Whether on the facts and in the circumstances of the case and in law the ld. CIT(A) is erred in granting further relief by allowing depreciation, interest to bank and remuneration to partner out of net income estimated by applying net profit rate of 8% by the AO. 2.4 We have heard the rival submissions. In fact, at the very out set of hearing of the appeals, it was brought to our notice that the ground raised in the appeal of the Revenue stands covered in favour of the assessee by the order of this very Bench rendered in assessee's own case for the assessment years 2006-07, 2007-08 and 2008-09. The copies of these tribunal orders are annexed vide pages 41 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ad to complexities sometimes in future. Since there is no difference between the findings of the ld. CIT(A) in this year vis-a-vis earlier assessment years. However, the objection of the assessee seems to be justified. Therefore, we amend the later part of the findings of the ld. CIT(A) where he adopted the net profit rate of 5.12% on total contract receipts allowing depreciation, interest and remuneration paid to partners. In our considered opinion, the law demands consistency to avoid any future misunderstanding and to keep the findings in the same manner we hold that net profit rate of 8% further subject to depreciation, interest and remuneration paid to partner could be final finding. Accordingly, we hold as above and allow the appeal o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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