TMI Blog1999 (12) TMI 117X X X X Extracts X X X X X X X X Extracts X X X X ..... ut all these three grounds relate to confirmation of an addition of Rs 5,850 made in the declared gross profit. The assessee has challenged the enhancement in the turnover of Rs. 11,70,000 as against declared turnover of Rs. 11,64,425 and has also challenged the application of GP rate of 13.5 per cent as against declared GP rate of 13.1 per cent. 2. The learned counsel drew our attention to the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ave perused the orders of the Departmental authorities. The assessee declared gross profit of Rs. 1,96,636 on total turnover of Rs. 11,19,136 in the immediately preceding year viz asst. yr. 1990-91 as per chart submitted by the assessee, which is placed at p 1 of the paper book. Percentage of GP rate declared by the assessee has been mentioned as 13.12 per cent in the said chart. If the figures of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... at the assessee produced books of accounts consisted of cash book, ledger, purchase and sale vouchers which were examined by the ITO by applying test check thereof. The ITO has also given a definite finding in the assessment order that purchases and sales are vouched. The only defect pointed out in the assessment order is absence of quantitative details. The AO has not pointed out any specific mis ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1 of paper book inter alia, shows that the GP rate in asst. yr. 1987-88 was 10.9 per cent and in asst. yr. 1988-89 it was 11.4 per cent., GP rate is bound to vary from year to year which depends on various factors. The minor variation in the GP rate declared by the assessee in the year under consideration as compared to the preceding year by itself cannot justify any addition. On a careful conside ..... X X X X Extracts X X X X X X X X Extracts X X X X
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