2018 (6) TMI 1234

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.... Appellant. ORAL ORDER Honourable Mr.Justice Akil Kureshi 1. These appeals arise out of a common judgment of Income Tax Appellate Tribunal dated 21.3.3017. We may consider Tax Appeal No.1004/2017 as the lead appeal in which the Revenue has proposed the following questions : "Whether on the facts and in the circumstances of the case, the Hon'ble Tribunal was right in law and on facts to ....

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.... receipt but the profit element suggested at the rate of 8% Gross Profit ratio should be taxed. Regarding the second head of Rs. 11.86 lacs, the Tribunal confirmed the additions in entirety in absence of any contrary evidence. Regarding the third element, the Tribunal was of the opinion that only the peak credit and not the entire aggregate of the receipts could be taxed. This the Tribunal held by....