AMIT AGRAWAL,SECTOR B, MAHANAGAR, LUCKNOW, UTTAR PRADESH vs. DY. COMMISSIONER OF INCOME TAX OFFICE, PRATYAKSH KAR BHAWAN, LUCKNOW, UP

ITA 908/LKW/2025Status: DisposedITAT Lucknow20 July 2026AY 2017-184 pages
AI SummaryPartly Allowed

What did the Tribunal hold?

The Tribunal directed the Assessing Officer to compute the net profit at 0.70% of the gross receipts, considering the average net profit rate of the preceding three assessment years.

What were the facts?

The Assessing Officer rejected the assessee's books of accounts and made an addition based on a 1% net profit rate. The CIT(A) reduced this to 0.8% based on the preceding year's rate.

What were the issues?

The primary issue was the determination of the correct net profit rate to be applied after the rejection of books of accounts. The assessee and the revenue had differing views on the appropriate rate.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 145(3)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, LUCKNOW BENCH ‘A’, LUCKNOW

Before: SHRI KUL BHARAT & SHRI ANADEE NATH MISSHRA

For Appellant: Ms Shweta, CA

PER KUL BHARAT, VICE PRESIDENT.:

(A) This appeal vide I.T.A. No.908/Lkw/2025 has been filed by the assessee for assessment year 2017-18 against impugned appellate order dated 08.09.2025 (DIN & Order No.ITBA/NFAC/S/250/2025- 26/1080406009(1) of Commissioner of Income Tax (Appeals) [“CIT(A)” for short]. In this appeal, the assessee has raised the following grounds: - Assessment Year:2017-18 2

(B) In this case, assessment order dated 10.12.2019 was passed by the Assessing Officer (“AO”, for short) u/s 143(3) of the Income Tax Act, 1961 (“Act”, for short) whereby the assessee’s total income was determin

The order continues below.

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