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TMI Blog2018 (3) TMI 1667X X X X Extracts X X X X X X X X Extracts X X X X ..... uction Company Ltd.’(2014 (8) TMI 491 - ALLAHABAD HIGH COURT), i.e., the Jurisdictional High Court, the past history needs to be followed in such cases. As such, the net profit rate of 2.65% is directed to be applied and the addition is directed to be reduced accordingly. - I.T.A No. 160/Agra/2015, 120/Agra/2016 - - - Dated:- 13-3-2018 - Shri A. D. Jain, JJ. Assessee by Shri Anurag Sinha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... NC Construction Company Limited has been completely ignored by the learned C.I.T. (Appeal) while fixing N.P rate at 3% instead of 2.86 %. 6. Because the Supreme Court in the case of State of Orissa Vs Maharaja Sri B.P. Deo reported in AIR 1970 (S.C.) 670 has held that the assessment must be based on some relevant material. It is not a power that can be exercised under the sweet will and pleasu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the impugned order, is as under: A.Y. Turnover NP Rate 2009-10 96676910/- 1.98% u/s 143(1) 2010-11 12743678/- 2.86% 2011-12 27201 35807- 3. 12% u/s 143(1) 2012-13 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e order appealed against is bad in fact and in law. 2. Because the learned C.I.T. (Appeal) has fixed the N.P (Net Profit) rate at 3% instead of 2.86% as shown by the appellant. 3. Because the learned C.I.T. (Appeal) has not considered the written submissions made before him in correct perspective. 4. Because the increase in Net Profit rate from 2.86% to 3% is erroneous, arbitrary, and unl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... fixing N.P @ 3% has no basis. 7. Because the act of increasing N.P rate by learned C.I.T is ad-hoc, and there is no relevant material to corroborate such increase in N.P rate. 8. In this year, the AO applied net profit rate of 3%, whereas the assessee had shown it at 2.64%. The ld. CIT(A) confirmed the assessment order. 9. Facts being the same, considering the assessee s past history, as ..... X X X X Extracts X X X X X X X X Extracts X X X X
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