2015 (5) TMI 1038

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..... ardwaj, Advocate and Mr.Radhe Mohan Garg, Advocate For the Respondent : Mrs.Savita Saxena, Advocate ORDER S.J.VAZIFDAR, ACTING CHIEF JUSTICE (ORAL): 1. This is an appeal against the order of the Income Tax Appellate Tribunal, Amritsar (for short, the 'Tribunal') dated 15.07.2014 (Annexure A-9), holding that the net profit rate of 8% be applied to determine the income at the hands o .....

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..... manner. As held by a Division Bench of this Court in Telelinks Vs. Commissioner of Income Tax, Bathinda (in ITA No.269 of 2014), decided on 20.11.2014, the discretion to determine an adequate net profit rate is neither unbridled nor unguided and must be guided by reason i.e. it should be preceded by a perceptible process of reasoning, based upon due consideration of all relevant facts. It was obs .....

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