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2018 (12) TMI 1387 - AT - Income TaxN.P. rate determination - rejection of books of accounts - Held that:- The assessment order and submissions of the appellant show cause was issued vide order sheet entry dated 13.01.2015, to the appellant as to why his book results should not be rejected and profit rate of 8% not be applied. After considering his reply have no option but to reject the books of accounts of the appellant and determine income at 8% of the total turnover…”. The order of CIT(A) is silent on what reply was furnished to her by the assessee; and why it did not find favour with her. CIT(A) has also not explained why she has selected 8% as the net profit rate. As the order of CIT(A) is silent on these important aspects, we are of the view that the entire issue requires fresh consideration by CIT(A) for a denovo order. Accordingly, we restore the issues in dispute to the file of the CIT(A) for a fresh denovo order. CIT(A) is directed to pass a speaking order, after giving opportunity of being heard to the assessee. - Decided partly in favour of assessee for statistical purposes.
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