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2014 (9) TMI 57 - HC - Income TaxNet profits estimated @ 5% against 10% - Account books not furnished – Held that:- The Tribunal observed that the assessee has received the construction work from the government department and assessee has not done any private work during the assessment years under consideration - AO has made the addition on estimate basis – it was uphold by the CIT(A), but the Tribunal has again examined the books of account and estimated N.P. @ 5% on estimation basis - Relying upon The Commissioner Trade Tax, Lucknow Vs. M/s Herbochem Industries, Barabanki [2009 (8) TMI 1119 - ALLAHABAD HIGH COURT] - Thus, no substantial question of law arises for consideration – Decided against Revenue.
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