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2015 (11) TMI 1577 - AT - Income TaxN.P. determination - deductions of depreciation, interest and remuneration to partners out of the net profit - rejecting the books of account - employee’s contribution to PF and ESI - Held that:- Respectfully following the order of Hon'ble ITAT in the appellant’s own case the application of net profit rate of 8% is upheld, subject to further allowance of depreciation, interest and remuneration paid to the partners.Since after allowing depreciation, interest and remuneration, the net profit would be less than what has been declared by the appellant, the net profit declared by the appellant amounting to ₹ 4,01,05,375/- is accepted. Disallowance u/s 43B - amount was deposited before the due dates - Held that:- As the payment made before filing of the return is to be allowed. Hence, the disallowance made by the AO does not appear to be justified and is, accordingly, deleted. See CIT vs. Udaipur Dugdh Utpadak Sahkari Sangh Ltd. [2014 (8) TMI 677 - RAJASTHAN HIGH COURT Decided against revenue
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