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2017 (8) TMI 287 - HC - Income TaxAddition on account of net profit rate @ 6% - Held that:- This Court vide order (2016 (7) TMI 1092 - PUNJAB & HARYANA HIGH COURT) allowed the appeal and set aside the order, Annexure A-3. Further the matter had been remitted to the Tribunal for a fresh decision on merits after scrutiny of all material placed before it by the assessee in accordance with law. It had also been noticed therein that such observation would not preclude the Revenue from moving any application for revival of the present appeal since the liberty for the same was granted by this Court while permitting the appeal to be withdrawn. Thus after hearing learned counsel for the parties, the appeal is allowed and the order passed by the Tribunal is set aside. The matter is remanded to the Tribunal to adjudicate the issue on merits after affording an opportunity of hearing to the parties in accordance with law.
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