2014 (6) TMI 1031

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.... DR ORDER Hari Om Maratha, This appeal by the revenue and cross objection [CO] by the assessee are directed against the order of the CIT(A)-III, Jaipur, Rajasthan dated 0.11.2013 pertaining to A.Y 2009-10. 2. The revenue has raised the following grounds in its appeal: "1. On the facts and in the circumstances of the case, the ld. CIT(A) has erred in deleting the trading addition of Rs. ....

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....rading addition of Rs. 7,11,310/-." 4. First ground of revenue's appeal and sole ground of assessee's CO are related to estimated trading addition made in the case of this assessee who is carrying on the business of a civil contractor. On gross contract receipts, the assessee firm has disclosed net profit of Rs. 16,73,373/- after claiming interest to partners and third party of Rs. 6,52,388/- an....

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....showed net profit rate of 5.85% and in A.Y. 2006-07 as stated above, net profit rate of 6% was adopted. As per the settled position, which we are consistently taking that even after rejection of books of account, the net profit rate or gross profit rate adopted in the immediately preceding year being the past history of the assessee has to be invoked. In this case, the past history of the assess....