2019 (10) TMI 1349

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..... also note that in this order under challenge, the Bench has decided only ground Nos. 6, 7 and 8 and has not adjudicated ground Nos. 2, 3, 4 and 5. Hence, respectfully following the proposition rendered in the case of Laxmi Electronic Corporation Ltd. [ 1990 (11) TMI 111 - ALLAHABAD HIGH COURT] and in the case of Mohan Meakin Ltd.[ 2003 (12) TMI 287 - ITAT DELHI-D] as vehemently relied on by l .....

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..... ave heard the rival submissions and perused the order of the Tribunal dated February 11, 2017. 3. On perusal of para 6 of the Tribunal order, it is clear that the authorised representative appearing on behalf of the assessee prayed to estimate net profit at 7 per cent. of turnover against estimation of 7.5 per cent. as con- firmed by the Commissioner of Income-tax (Appeals). 4. The main grie .....

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..... roposition rendered by the hon'ble Allahabad High Court in the case of Laxmi Electronic Corporation Ltd. v. CIT [1991] 188 ITR 398 (All) and order of the Income-tax Appellate Tribunal Delhi in the case of Mohan Meakin Ltd. v. ITO [2004] 89 ITD 179 (Delhi), as vehemently relied on by learned authorised representative of the assessee, the Tribunal order is recalled for limited purposes i. e. for .....

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