2010 (8) TMI 1063

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... appeal has been preferred by the revenue under Section 260A of the Income Tax Act, 1961 (in short "the Act") against the order dated 12.9.2001 passed by the Income Tax Appellate Tribunal, Amritsar Bench, Amritsar (hereinafter referred to as "the Tribunal") in ITA No. 103 (ASR)/1993 for the assessment year 1991-92 proposing to raise the following substantial question of law:- "Whether, on....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ere not subject to verification. The assessee did not furnish month-wise details of payments received and volume of material supplied by the Government departments and month-wise expenditure under different heads. The Assessing Officer invoked proviso to Section 145 (1) of the Act and applied net profit rate of 10% on the receipts and disallowed the interest and depreciation. The assessee took the....