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2016 (12) TMI 1834 - AT - Income TaxRejection of the books of account u/s 145(3) - application of net profit rate of 12% - HELD THAT:- Identical issue have been considered by ITAT Chandigarh Bench in the case of the assessee, in preceding assessment years 2005-06, 2006-07 and 2008-09. The Assessing Officer has recorded several reasons for rejection of the books of account in the assessment years which have not been disputed by ld. counsel for the assessee. The ld. counsel for the assessee did not challenge rejection of the books of account under section 145(3) of the Act, therefore, findings of authorities below to that extent are confirmed. Following history of the assessee, it would be reasonable and appropriate to direct the Assessing Officer to apply NP rate @ 6% as against 12% adopted by the authorities below.
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