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2015 (5) TMI 267 - BOMBAY HIGH COURTEstimation of net profit rate - CIT(A) estimated the income of the assessee at 8 per cent. of the turnover - assessee's grievance that the estimation by the Commissioner of Income-tax (Appeals) should have been at best at 6.5 per cent - Held that:- Tribunal concluded that the net profit rate had varied from 2.93 per cent. to 9.96 per cent. These are big concerns, who maintain proper accounts and also maintain quality standards. In the case of the assessee, as held earlier, accounts are not reliable and, hence, the estimation of net profit rate of 8 per cent. is justified. No reason to entertain this appeal, when pure findings of fact are being assailed by the Revenue. This court cannot reappreciate and reappraise the said findings of fact. The Tribunal's exercise in upholding the order of the Commissioner of Income-tax (Appeals) and his estimation cannot be interfered with by us at the behest of the Revenue without any perversity being demonstrated. The Revenue's estimation on the higher side and based on the Assessing Officer's order was rightly termed as abnormal and unreasonable. No substantial question of law. - Decided against revenue.
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