Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2002 (1) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2002 (1) TMI 14 - HC - Income TaxAppeal To High Court, Accounting, Rejection Of Accounts - It is contended by Mr. Bhandawat, learned counsel for the Department, that the Tribunal having held that the books of account were rightly rejected by the Assessing Officer which was confirmed by the Commissioner of Income tax (Appeals) committed an error in reducing the rate of net profit from 12.5 percent to 10 percent without assigning any good reasons. - We have carefully gone through the judgment of the Tribunal. We are not impressed with the contention of Mr. Bhandawat, to the effect that no reasons have been assigned by the Tribunal for confirming the finding of the Tribunal for reducing the net profit rate from 12 percent to 10 percent.
|