TMI Blog2019 (2) TMI 237X X X X Extracts X X X X X X X X Extracts X X X X ..... ed with the finding of the CIT(A) as detailed in paragraph 33 of the order and concluded that the Assessing Officer has rightly applied addition of net profits at the rate of 8% p.a. on the total sale of assessee. Consequently, set aside the finding of the CIT(A) and confirmed the addition. Having perused the orders passed by the AO, CIT(A) and the IT Appellate Tribunal, we are of the considere ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... aji Land Finance Co., Vs. ITO, Dewas) and ITA No.137/Ind/2013 (DCIt-1(1) Ujjain Vs. M/s Bhoomiyaji Land Finance Co.) for the assessment year 2008-09 against the order of the Income Tax Appellate Tribunal, Bench at Indore The appeal filed by the Revenue has been partly allowed. Facts relevant and necessary for disposal of this appeal lie in narrow compass: The Assessee - firm, namely; M/s Bh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 12/2012. The CIT(A) deleted the addition of net profits of ₹ 10,86,557/- as well as the deletion of addition of ₹ 39,71,000/- from the total addition of ₹ 45,13,000/- as income of the assessee. Aggrieved by the aforesaid order, both the Assessee and the Revenue have preferred aforesaid appeals before the Income Tax Appellate Tribunal, Bench at Indore. The IT Appellate Tribu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... unal has not agreed with the finding of the CIT(A) as detailed in paragraph 33 of the order and concluded that the Assessing Officer has rightly applied addition of net profits at the rate of 8% per annum on the total sale of assessee. Consequently, set aside the finding of the CIT(A) and confirmed the addition of ₹ 10,86,557/-. Having perused the orders passed by the Assessing Officer, C ..... X X X X Extracts X X X X X X X X Extracts X X X X
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