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2023 (8) TMI 963 - AT - Income TaxRejection of books of accounts - NP determination - HELD THAT:- Considering nature of business involved in the assessee’s case namely business of repairing and servicing of diesel generators, we deem it fit to adopt the net profit ratio of 9.52% as determined in the previous Assessment Year 2013-14 to be adopted for the present Assessment Year 2014-15. Thus AO is directed to adopt 9.52% as the net profit for the Assessment Year 2014-15. Thus the Grounds raised by the Assessee is hereby allowed.
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