2019 (6) TMI 1713

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.....Varkey, JM These are appeals filed by the assessee company against the order of the CIT(A) - Jalpaiguri, dated 25.05.2017 for Assessment Years 2011-12 and 2014-15. 1A. At the outset, we find that the appeal of the assessee is time barred by 20 days and a condonation petition has been filed. After hearing both the sides, we condone the delay and admit the appeal for hearing. 2. At the outset it....

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....enditure so, he made addition u/s 69C & on the basis of violation of section 40(a)(ia) and section 40A(3) for AY 2014-15 an amount of Rs. 54,57,223/- & Rs. 1,10,97,600/- was disallowed. Similarly for AY 2011-12 disallowance u/s 40A(3) Rs. 52,62,039/- was made. On appeal, the Ld. CIT(A) deleted the additions made u/s 69C, 40(a)(ia) & 40A(3) of the Act and thereafter rejected the books of accounts o....

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.... of the Act. On appeal, the Ld. CIT(A) has deleted the additions made u/s 40(a)(ia), sec. 40A(3) & sec. 69C of the Act and thereafter has rejected the books of accounts of the assessee and estimated the net profit at 8%. The main plea of the assessee is that the net profit of 8% is very high and relied on certain decisions of the Tribunal wherein lesser net profit has been accepted by the Tribunal....

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....t profit declared in the accounts of the appellant Net Profit percentage A B C D(B+C)   2011-12 Rs. 1,32,15,854* Rs. 1,62,32,408 Rs. 2,94,48,262 5.48% 2012-13 Rs. 1,92,42,218** Rs. 1,98,14,384 Rs. 3,90,56,602 6.04% 2013-14 Rs. 1,69,87,042*** Rs. 1,55,97,226 Rs. 3,25,84,268 5.85% 2014-15 Rs. 1,51,19,940**** Rs. 1,74,73,941 Rs. 3,25,93,881 4.55% 5. We note that the Ld....