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2023 (4) TMI 65 - CALCUTTA HIGH COURTNet profit estimation - ITAT reducing the Net Profit Percentage from 8% as estimated by CIT (A) to 0.6% - whether Net Profit has arrived at by the Tribunal at 0.6% was just and proper? - HELD THAT:- On going through the order passed by the Tribunal we find that the Tribunal has not only considered the estimation of the Net Profit in respect of the assessee’s sister concern but has also taken note of the Net Profit declared by the assessee for the assessment year 2009-2010 to 2011-2012 which were within the range of 0.2% to 0.29% and even in the scrutiny proceeding of the assessee’s case Net Profit was estimated below one per cent. Tribunal found on facts that the business during all the years was the same and there was no change and the books of accounts was duly audited and no error was pointed out by the concerned authority. Thus we find that the entire matter is factually correct and no substantial question of law arises for consideration. Hence, the appeal fails and dismissed.
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