ITAT Agra Judgments — April 2021

2 orders · Page 1 of 1

MR. PRAMOD KUMAR KHANDELWAL,AGRA vs DY.C.I.T.-1, AGRA

ITA 201/AGR/2016[2010-11]Status: Disposed12 Apr 2021AY 2010-11Partly Allowed

The Tribunal found that while rejection of books of accounts was justified, the estimated net profit rate of 8% was arbitrary. It directed the AO to apply a net profit rate of 6% on gross receipts for estimation of business income.

MR. PRAMOD KUMAR KHANDELWAL,AGRA vs DY.C.I.T.-1, AGRA

ITA 200/AGR/2016[2011-12]Status: Disposed12 Apr 2021AY 2011-12Partly Allowed

The Tribunal found that while rejection of books of accounts was justified, the estimated net profit rate of 8% was arbitrary. It directed the AO to apply a net profit rate of 6% on gross receipts for estimation of business income.