2017 (4) TMI 617

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....al ORDER This Income Tax Appeal has been filed by the revenue against the order of the Income Tax Appellate Tribunal, Agra Bench, Agra dated 06.02.2009 for the assessment year 2004-05. The appeal was admitted on the following substantial questions of law:- "1. Whether the Hon'ble ITAT, Agra Bench, Agra was legally correct in upholding the findings of the CIT (A) who had directed....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....nt was made. While the assessing officer adopted a gross profit rate to estimate the income of the assessee. The CIT (Appeals) had adopted a net profit rate of 10% considering the comparable cases of other persons engaged in similar business in respect of income arising from contracts. In respect of liquor business the CIT (Appeals) adopted a net profit rate of 2% on the basis of comparable case o....