2023 (4) TMI 65

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..... rithu Dudhoria, Adv ORDER The Court :- We have heard learned standing Counsel for the appellant Mr. Prithu Dudhoria. Notice on the respondent has been served and the same has been returned with the postal endorsement "unclaimed" which is deemed to be proper service. We have perused affidavit filed in support of the petition and found sufficient cause has been shown for not being able to prefer .....

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..... ssee had been engaged in claiming bogus purchase and expense by accepting accommodation entries which were brought on record by the Assessing Officer and the Learned CIT (A) inasmuch as such reduction in estimation of Net Profit Percentage could not have been done by a person of Normal Prudence on such facts and materials brought and available on record especially when the assessee was found to ha .....

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..... 2010 to 2011-2012 which were within the range of 0.2% to 0.29% and even in the scrutiny proceeding of the assessee's case Net Profit was estimated below one per cent. That apart the Tribunal found on facts that the business during all the years was the same and there was no change and the books of accounts was duly audited and no error was pointed out by the concerned authority. Thus we find that .....

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