2018 (11) TMI 1884

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....ent : None. ORDER PER S.S. Godara, Judicial Member : This Revenue's appeal for assessment year 2009-10 challenges correctness of Commissioner of Income Tax (Appeals)-4 Kolkata's order dated 06.06.2016, passed in case No.190/CIT(A)-4/Ward-10(2)/Kol/14-15, in proceedings u/s. 144/264 of the Income Tax Act, 1961; in short 'the Act'. Case called twice. None appears at assessee's behest. It is....

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....ocuments in support of return already filed i.e. copy of return (ITR-6), Audited Accounts, Tax Audit Report u/s 44AB, Computation of Income etc. on 02.11.2012. Perusal of audit report i.e. Form 3CD reveals that the company maintained books of account as detailed against item 9(a) & (b). It also appears that Tax Audit Report has been submitted by Auditor after due examination of all the books of ac....

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.... incentive to agents amounting to Rs.6,64,83,650/- would only result in an absurd net profit rate of 13.90% in this particular line of business in which the appellant company is engaged in. Considering the facts and circumstances of the case as well as the normal profit rends in this line of business, I am of the view that book profit declared is liable to be rejected. The income of the company ma....