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2016 (2) TMI 163 - AT - Income TaxNP rate determination - Held that:- NP rate which should be considered for examination is NP rate before depreciation, interest and remuneration to partners. Nothing has been brought to your notice for deviating from the said settled position. Further, during the year under consideration, the NP rate before depreciation, interest and remuneration to partners is disclosed by the assessee at 9.02% which is on a progressive scale hence there is no basis to disturb the same. Secondly the expenses have been disallowed on an adhoc basis. In absence of any specific finding of the AO whereby specific expenses/transactions have been held to be not incurred for the purposes of the businesses, we are unable to accede to the position adopted by the AO. Hence we do not see any infirmity in order of ld. CIT(A) which is confirmed. - Decided against revenue
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