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TMI Blog2019 (4) TMI 1230X X X X Extracts X X X X X X X X Extracts X X X X ..... ty. However, in the later portion, the Tribunal subjected the turnover from such business at a profit rate of 1%. This has clearly resulted into erroneous finding being arrived at by the Tribunal. Being an exercise predominantly in the nature of fact finding, we would therefore request the Tribunal to do it afresh after hearing both sides. For such purpose, we restore the Appeal before the Tribuna ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 015 raising following question for our consideration: Whether on the facts and circumstances of the case and in law, the Hon'ble ITAT was justified in estimating net profit at 1.0% on ₹ 4469.32 lacs assuming as sale on trading business, added to the existing business of the firm, in the absence of any documentary evidence and failure of the assessee to produce the same, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sh after hearing both sides. For such purpose, we restore the Appeal before the Tribunal. We have not expressed any opinion on the merits of this issue and the Tribunal shall give its finding independently of any of the observations which have been made in this order. 4. Before closing, we would like to clarify one aspect. As pointed out by the Counsel for the respondent, the respon ..... X X X X Extracts X X X X X X X X Extracts X X X X
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