M/S. SATISH AGGARWAL & CO.,AMRITSAR. vs. ASSTT. COMMISSIONER OF INCOME-TAX, AMRITSAR.
In the result, the appeal of the assessee is partly allowed
ITA 176/ASR/2015[2010-11]Status: DisposedITAT Amritsar20 Mar 2019AY 2010-11
Bench: Sh. N. S. Saini & Sh. N. K. Choudhryita No. 176/Asr./2015 : Asstt. Year : 2010-11 M/S Satish Aggarwal & Co., Vs Asstt. Commissioner Of Income Civil Contractors, 12B, Nikka Tax, Circle-V, Singh Colony, Ram Tirath Road, Amritsar Amritsar (Appellant) (Respondent) Pan No. Aaqfs0788M Assessee By : Sh. Ashwani Kalia, Ca Revenue By : Sh. Yashender Garg, Dr Date Of Hearing :22.02.2019 Date Of Pronouncement : 22.03.2019 Order Per N. S. Saini: This Is An Appeal Filed By The Assessee Against The Order Of Cit(A)-Ii, Amritsar Dated 30.01.2015. 2. The Sole Issue Involved In This Appeal Is That The Commissioner Of Income Tax (Appeals) Erred In Estimating The Net Profit @ 10% Of The Turnover Which Is Excessive & Not Allowed Depreciation Of Rs.33,77,901/- From The Profit So Estimated.
For Appellant: Sh. Ashwani Kalia, CAFor Respondent: Sh. Yashender Garg, DR
Section 144Section 145(3)Section 40
deducting depreciation from the profit earned by the assessee or the rate was before the deduction of depreciation out of the estimated