9911796707
TMI Blog2020 (2) TMI 837X X X X Extracts X X X X X X X X Extracts X X X X ..... in audited books of account in respect of the transaction -, the appellant is aggrieved for non-admission of additional evidence under Rule 29 of the Income Tax (Appellate Tribunal) Rules, 1963 HELD THAT:- Same should be borne in mind by the learned tribunal in deciding the matter afresh as we propose to direct. Part of the impugned order dated 24th August, 2018 which relates to the questions f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ulated in paragraph 7 of the petition, from the records and from the submissions made by learned counsel for the parties, will appear from the narration below. Mr. Bag, learned advocate appearing for the appellant, submits that the profit earned by the appellant is more than the percentage of profit stipulated as deemed profit in Section 44AD of the Income Tax Act, 1961 and hence Subsection 5 t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... which relates to the questions formulated in paragraph 7 of the petition is set aside with a direction upon the tribunal to reconsider the matter afresh, deciding the applicability of Section 44AD particularly sub-Section 5 thereof, by admitting additional evidence as prayed for under Rule 29 of the said Rules, 1963 and also dealing with the questions of law and facts raised in paragraph 7 of the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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