TMI Blog2014 (7) TMI 1333X X X X Extracts X X X X X X X X Extracts X X X X ..... tion and interest and remuneration paid to the partners when provisions of sec. 145 - HELD THAT:- Assessee is a partnership firm deriving its income from execution of contract work undertaken from Government department. The books of account were rejected u/s 145(3) and net profit rate was applied. The Tribunal has also confirmed the application of provisions of section 145(3) of the Act but the as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Hari Om Maratha, J.M This is an appeal by the assessee directed against the order dated 19/03/2006 of ld. CIT(A), Bikaner. 2. The following sole ground has been raised in this appeal: On the facts and in the circumstances of the case, the ld. CIT(A) has erred in directing to apply net profit rate of 8.48% before allowing claim for depreciation, interest remuneration to partners an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d to be covered by the decision of this very Bench rendered in the case of M/s Ganesh Garhia Construction Co. Vs. ACIT for A.Y. 2004-05 in ITA No. 430/Jodhpur/2008 which was also corrected/rectified vide MA No. 04/JU/2013 vide order dated 02.05.2014. Accordingly, the order passed by the Tribunal on 31.12.2008 in this case was recalled and only to that extent the appeal was heard. The issue of paym ..... X X X X Extracts X X X X X X X X Extracts X X X X
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