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2015 (1) TMI 1058 - AT - Income TaxLow gross profit shown - sale of mobile hand sets and mobile recharge coupons - CIT(A) deleted the addition - rejection of books of accounts - Held that:- As find from the written submissions of assessee to ld.CIT(A) placed at Paper Book page 85 that combined GP of assessee for Asstt. Year 2006-07 to 2008-09 ranged from 0.89% to 1.09% and the declared combined GP ratio in the present year is 1.17%. Therefore, GP declared by assessee in the present year is in line with earlier years. Moreover, we find that A.O. in the remand report has not raised any objections against written submissions filed by the assessee and the ld. CIT(A) has passed a well reasoned and speaking order. As regards the contention of ld.DR that detail of profit passed on to Retailers & Spoke were not provided, we find that the billing rates were fixed by Bharti Airtel Ltd., for Retailers & Spokes and bills were raised at pre-determined prices as fixed by Bharti Airtel Ltd. and assessee was entitled to only its share only out of total gross profit of 4.27%. In view of the above, we do not find any infirmity in the order of ld.CIT(A). - Decided in favour of assessee.
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