2018 (10) TMI 1302

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..... a member of the assessee's firm that an estimate was made taking the net profit rate of the assessee to be 20%, which was after consensus reached at 15%. This is recorded in the order of the CIT and the Tribunal has taken this into account. The assessee was also granted relief on this basis. Such being the case, we are of the opinion that no question of law arises in this matter and the facts .....

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..... siness unit without allowing the depreciation of plant and machinery and interest paid on borrowing/ loan ? 2). Whether on the facts and in the circumstances of the case, the net profit rate can be determined without allowing the interest on loans and depreciation, particularly when it is the 2nd year of the new cold storage business, or the same deduction shall be allowed separately ? W .....

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..... imate was made taking the net profit rate of the assessee to be 20%, which was after consensus reached at 15%. This is recorded in the order of the CIT and the Tribunal has taken this into account. The assessee was also granted relief on this basis. Such being the case, we are of the opinion that no question of law arises in this matter and the facts are also concluded. The appeal has no mer .....

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