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2016 (3) TMI 19 - AT - Income TaxNP rate determination - CIT(A) has calculated NP rate @ 6.28% on given facts and figures by the assessee against 5.16% shown in the year under consideration - Held that:- AR had not controverted the finding given by the ld CIT(A). The ld AR had not challenged the rejection of books of account, therefore, book result cannot be accepted as such. The past history also showed that the assessee had shown much more NP rate even on higher gross receipts. The assessee is a habitual for non-maintaining proper books of account including vouchers and stock register as per site wise and details of labour charges. Therefore, we uphold the order of the ld CIT(A). Accordingly, this ground of appeal is dismissed. In A.Y. 2011-12, the Assessing Officer had applied NP rate of 15% and the assessee had shown NP rate before depreciation, interest and salary @ 13.73%. The NP rate during the year after depreciation, interest and remuneration to partner is 3.4% whereas this rate was 5.28% in preceding year, therefore, there was a substantial decline in NP rate during the year. The AR has not explained this reason alongwith evidence. Moreover, in the present case as well as there is rejection of books of account and the assessee has failed to maintain proper books of account namely stock register, labour charges register, qualitative details and record of the invoices, therefore, on account of record has rightly been rejected by the authorities below, considering the facts and circumstances, in the interest of justice, we confirm lump sum addition of ₹ 12 lacs and assessee get relief of ₹ 7,46,289/-.- Decided partly in favour of assessee TDS U/s 194H not paid - payment of bank guarantee, brokerage - Held that:- The relation between the assessee and the bank is not principal and agent, the commission of bank guarantee is not covered by the explanation (i), therefore, no TDS is liable to be deducted. - Decided in favour of assessee
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