TMI Blog2010 (4) TMI 268X X X X Extracts X X X X X X X X Extracts X X X X ..... cted the arguments of the assessee/appellant that the rate of 10% adopted by the CIT (Appeals) was on higher side. It is pertinent to mention that the Assessing Officer has applied a rate of 12% which has been scaled down by the CIT (Appeals) to 10% with a further allowance for expenditure on account of salary paid to partners and depreciation – Held that: - view taken by the Tribunal does not war ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 gross receipts in order to compute income subject to allowances. The Tribunal has rejected the arguments of the assessee/appellant that the rate of 10% adopted by the CIT (Appeals) was on higher side. It i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e 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 question of law warranting admission of appeal under Section 260A of the Income Tax Act, 1961. The appeal is wholly without merit and the same is accordingly dismissed. (M.M. KUMAR) JUDGE (JITENDRA CH ..... X X X X Extracts X X X X X X X X Extracts X X X X
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