THE GURU NANAK TRUCK OPERATOR UNION,SUNAM vs. ITO WARD,SUNAM, SANGRUR

justice, we partly allow the appeal of the assessee and modify the order passed by the Ld. CIT(A) and restrict the net profit rate to 1% of the gross receipts, which is more than the percentage in the last 3 years. We therefore, direct the Assessing Officer to compute the addition @ 1% of the gross receipts.

In the result, the appeal filed by the assessee is partly allowed.

Order pronounced on 18.03.2021.