2011 (9) TMI 1099

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

...., J. This order shall dispose of two appeals bearing ITA No.260 of 2011 pertaining to assessment year 2005-2006 and ITA No.261 of 2011 pertaining to assessment year 2006-2007 against order dated 18.8.2010 whereby the Income Tax Appellate Tribunal, Chandigarh has set aside the order of the Commissioner of Income Tax (Appeals) and maintained the order of the Assessing Officer levying net profit rat....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....s to whether net profit rate of 7% is to be applied or enhanced to the rate of 12%. The Assessing Officer applied the net profit rate as 7% and the said order has been affirmed by the learned Appellate Tribunal. The learned Tribunal has recorded a finding that there is no evidence produced by the revenue to prove that the assessee has the higher profit than the net profit rate of 7%. A perusal of....