TMI Blog2016 (12) TMI 1834X X X X Extracts X X X X X X X X Extracts X X X X ..... f the assessee, it would be reasonable and appropriate to direct the Assessing Officer to apply NP rate @ 6% as against 12% adopted by the authorities below. - ITA No. 639/CHD/2015, 640/CHD/2015 - - - Dated:- 7-12-2016 - Shri Bhavnesh Saini, Judicial Member And Ms.Annapurna Gupta, Accountant Member Appellant by: Shri Sudhir Sehgal Respondent by: Shri Manjit Singh ORDER Bhavnesh Saini, Both the appeals by the same assessee are directed against different orders of ld. CIT(Appeals) Rohtak dated 31.03.2015 for assessment years 2009-10 and 2010-11. 2. In both the appeals, the assessee challenged the rejection of the books of account under section 145(3) of the Income Tax Act and confirmation of application of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ts and noted various defects in the books of account of the assessee and applied NP rte of 12% and computed income of the assessee accordingly. 3(i) The ld. CIT(Appeals) confirmed the rejection of the books of account in both the years and also confirmed the addition on merit and thus, application of NP rate of 12% was confirmed. 4. After considering rival submissions, we are of the view application of profit rate of 12% is on excessive side in both the assessment years. During the course of arguments, ld. counsel for the assessee did not challenge the orders of the authorities below as regards rejection of the books of account under section 145(3) of the Income Tax Act. He has, however, submitted that the application of Net Profit ra ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g Officer has recorded several reasons for rejection of the books of account in the assessment years which have not been disputed by ld. counsel for the assessee. The ld. counsel for the assessee did not challenge rejection of the books of account under section 145(3) of the Act, therefore, findings of authorities below to that extent are confirmed. 4(ii) The ld. counsel for the assessee also submitted that in assessment year 2009-10, assessee has declared NP rate of 3.5% and in assessment year 2010-11, assessee declared NP rate of 4.8% therefore, considering history of the assessee as noted above, in which in earlier years NP rate of 12% was not approved by the Tribunal and in the last year for assessment year 2008-09, the Tribunal vide ..... X X X X Extracts X X X X X X X X Extracts X X X X
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