Matter of addition based on low net profit remanded to re-examine books of account

DCIT Vs M Z Enterprise (ITAT Ranchi)

ITAT Ranchi matter of addition based on low net profit remanded the matter back to the file of CIT(A) for re-examination of facts based on books of accounts and other related documents produced.

Facts- During the course of survey proceedings, the statement of one of the partners of the firm Mr. Zinu, was recorded, who had stated that he earns commission @ 5.5% from M/s Shapoorji Pallonji for supply of manpower. However, from ITR filed by the assessee it was observed that the assessee has shown only 0.84% as his profit. It

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