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2018 (10) TMI 1302 - ALLAHABAD HIGH COURTN.P. determination - ITAT confirmed the net profit rate of 15% while estimating the income of the new business unit - Held that:- It has come on record that the assessee did not produce any evidence and it is on the basis of a statement made by one Rajeev Agarwal, who was a member of the assessee's firm that an estimate was made taking the net profit rate of the assessee to be 20%, which was after consensus reached at 15%. This is recorded in the order of the CIT and the Tribunal has taken this into account. The assessee was also granted relief on this basis. Such being the case, we are of the opinion that no question of law arises in this matter and the facts are also concluded.
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