2013 (9) TMI 898

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... hri Dhananjai Awasthi, learned counsel appearing for the department. Shri Ashish Bansal appears for the respondent-assessee. 2. This Income Tax Appeal filed under Section 260-A of the Income Tax Act arises from an order of Income Tax Appellate Tribunal, Allahabad Bench, Allahabad dated 01.5.2013 in respect of assessment year 2009-10. 3. The appeal has been preferred by the department on followin .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... of account on two grounds, namely that all expenses are not vouched and in such a situation the profit declared is not prone to verification and not realistic. The second ground for rejection of accounts book was that N.P./turn over is 0.74%. If the N.P. from civil contract business is analysed, it would work out only 0.19% and hence the books of account was rejected and the income of 7% of gross .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... legal position that on identical facts, the same amount of income should be assessable in the cases of all the assessees. The Tribunal found that for last seven years the accounts were accepted by the department. There was no error in the system of account adopted by the assessee. 6. A net profit may vary from year to year. The adoption of the gross profit of account would not depend only upon t .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X