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2012 (9) TMI 1036 - AT - Income TaxRejection of books of accounts - profit estimation - Held that:- Similar books of account were rejected. In the grounds of appeal, there is no challenge to the rejection of books of account. There is no change in the facts and circumstances of the case as compared to the earlier year. The Tribunal in the earlier year confirmed the application of profit rate of 8%, but deleted the separate addition on account of interest income. Following the order of the Tribunal in earlier assessment year, we confirm the orders of the authorities below in applying the profit rate of 8%. However, the interest income of ₹ 78,200/- should not be added separately. The orders of the authorities below to that extent are set aside and modified and we direct that no separate addition on account of interest income be made in the case of assessee. Thus, the assessee will get relief of ₹ 78,200/- and rest of the order of the ld. CIT(A) is confirmed.
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