2010 (4) TMI 268

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..... ith a prayer for quashing the order dated 23.03.2009 passed by the Income Tax Appellate Tribunal Bench-B, Chandigarh (for brevity the 'Tribunal') in ITA No. 1067/CHANDI/2008 in respect of the assessment year 2005-06 (Annexure A-1). The Tribunal in the impugned order has upheld the opinion expressed by the CIT (Appeals) for rejection of books of account and the application of rate of 10% of the gro .....

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..... se for rate of 10% with further allowance of salary to partners and depreciation is absolutely reasonable in the facts and circumstances of the case especially when the books of account belonging to the assessee-appellant have been rejected. It has not been shown that the rate of 10% has been applied arbitrarily and could not have applied. There is no question of law much less a substantive questi .....

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