2020 (5) TMI 362

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..... on the ground that Net Profit rate had dropped drastically in the preceding years. Subsequently, a remand was ordered and in the remand report the Books of Accounts produced were checked but no finding of any discrepancy was ascertained. It was in these circumstances that the Commissioner allowed the appeal of the assessee and that finding was upheld by the Tribunal. The questions proposed are .....

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..... e Income Tax Act, 1961. 2. Whether the Ld. ITAT was right in law as well as on facts in upholding the order of Ld. CIT(A) in deleting the addition of ₹ 15,53,42,066/- made by the AO without adjudicating the issue of net profit ratio and simply relying upon the remand report whereas in the remand report, the issue was not examined at all. 3. Whether the Ld. ITAT was right in law as w .....

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