2011 (9) TMI 1099

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....For the Respondent : -- Hemant Gupta, 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....

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.... keeping in view circumstances of each case as 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 ....