Case Law Details
Case Name : Pragati Engineering Corporation Vs Income-tax Officer, Raebareli (ITAT Lucknow)
Related Assessment Year : 2005-06
Courts :
All ITAT ITAT Lucknow
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IN THE ITAT LUCKNOW BENCH ‘B’ (THIRD MEMBER)
Pragati Engineering Corporation
V/s.
Income-tax Officer, Raebareli
IT APPEAL NO. 304 (LKW) OF 2011
[ASSESSMENT YEAR 2005-06]
MAY 14, 2012
ORDER
Sunil Kumar Yadav, Judicial Member
This appeal is preferred by the assessee against the order of the Id. CIT(A) confirming the addition of Rs. 12,55,520 made by the Assessing Officer after making disallowances under various heads on ad-hoc basis ranging from 10 to 20% of the total claim.
2. The brief facts borne out from the record are that the assessee is a Civil Contractor and...
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The above decision has been set aside by the Hon High Court with directions to the Tribunal to follow its earlier order of applying a flat NP rate and to allow deduction in respect of interest and depreciation