2014 (9) TMI 57

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....9;ble Dr. Satish Chandra,JJ. For the Appellant : A. N. Mahajan/S. C. ,Ashok Kumar For the Respondent : Krishna Agrawal ORDER The present appeals are filed by the department against the orders dated 09.09.2009 and 12.05.2011 passed by the Income Tax Appellate Tribunal, Allahabad in I.T.A. Nos. 363 & 364/Alld./2008 and I.T.A. Nos. 308 & 309/Alld./2010 for the assessment years 2004-05 & 2005-06.....

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....ed by the A.O.? (3) Whether on the facts and in the circumstances of the case, the Tribunal is justified in law in not taking into consideration the material and evidence brought on record by the A.O. for enhancing the gross receipts and net profit rate of the assessee nor any cogent or justifiable reason has been given by it for accepting the figures as disclosed by the assessee?" The brief fac....

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....unsel for the assessee-respondent. After hearing both the parties and on perusal of record, it appears that the A.O. has rejected the books of account under Section-145(3) of the Act and estimated the N.P. rate @ 10% on gross receipts. The same was upheld by the first appellate authority. However, the Tribunal has examined the past history of the assessee pertaining to the N.P. rate which is as u....

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....06 (The Commissioner Trade Tax, Lucknow Vs. M/s Herbochem Industries, Barabanki) decided on 06.08.2009; as well as in T.T.R. No. 163 of 2007 (CTT Vs. M/s Chaudhary Brick Field, Gonda) decided on 30.07.2009, this Court has taken a view that question of estimation is a question of fact. Further, in the following cases it was also observed that estimation is question of fact. I. New Plaza Restaurant....