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2015 (6) TMI 478 - AT - Income TaxUnexplained low gross profit rate - CIT(A) deleted the addition - Held that:- Considering the judicial precedent laid down by the ITAT in assessees own case wherein the M.A. filed by the Revenue stands allowed on similarity of facts wherein held as Tribunal did not consider this contention of the Revenue based on the findings in the assessment order that assessee failed to justify the market rate vis-`-vis the purchase price paid to sister concern and this was one of the main reasons for fall in GP., we find that the impugned order deserves to be set aside. Ordered accordingly. The issue is restored back to the file of the CIT(A) with the direction to decide the issue again after considering the relevant points brought out by the AO in his order. Needless to say that the assessee shall be afforded a reasonable opportunity of being heard. - Decided in favour of revenue for statistical purposes.
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