2013 (9) TMI 1242

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..... aratha, This appeal of the assessee for A.Y. 2008-09, filed against the order of ld. CIT(A)-III, Jaipur, dated 15/03/2013, raise only one issue relating to application of a net rate of profit on the turnover of the assessee derived from the civil contracts. 2. The assessee has disclosed net profit rate of 8% on its total turnover of ₹ 1,21,49,964/-. However, the expens .....

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..... s the rate of that year cannot operate as a guiding factor u/s 145 of the Act. 2.2 After considering rival stands we have found it for a fact that after rejection of books, assessee s past history is very much relevant. It does not matter if the profit rate was accepted in a scrutiny assessment or in the regular assessment. Accordingly, we apply n.p. rate of the past year and allow this .....

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