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2018 (3) TMI 1447 - AT - Income TaxEstimation of income - Determination of NPR - rejection of books for non-maintenance of stock register coupled with payment of expenses on self made vouchers - Held that:- The 8% NPR confirmed by the ld. CIT(A) was applied by the AO has observed (Para 4 of the assessment order) that the net profit rate shown by the assessee was 6.7%, whereas, actually, it was shown at 5.01%. Though the ld. CIT(A) took due note (impugned order, para 6.1) of this actual NPR shown by the assessee, he maintained the net profit rate of 8% as applied by the AO. Considering the past history in the assessee’s own case, the AO is directed to apply a net profit rate of 2.65% and the addition is directed to be reduced accordingly.
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