2013 (3) TMI 52

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....DER Affidavit of service filed today be taken on record. The present appeal has been filed under section 260 A of the Income Tax Act, 1961 (hereinafter referred to as the Act) against the order dated 04.08.2010 passed by the Income Tax Appellate Tribunal, Lucknow. The Commissioner of Income Tax, Bareilly had proposed the following question said to be substantial question of law arising out o....

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....ssessing Officer invoked the provisions of section 145(1) of the Act only on the ground that the net profit shown was too low. He did not point out any specific defect in the maintenance of the books of account. He applied the net profit at 6% and made an addition of Rs. 1,11,22,980/- The total income was assessed at Rs. 1,15,80,000/- Feeling aggrieved, the assessee preferred an appeal before the ....

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....defect was pointed out by the Assessing Officer in the maintenance of the books of account, the Commissioner of Income Tax (Appeals) Bareilly had held that merely because a very low profit had been shown that would not be a ground for invoking the provisions of section 145(1) of the Act. Feeling aggrieved, the Revenue preferred an appeal before the Tribunal. The Tribunal by the impugned order h....