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2015 (9) TMI 175 - AT - Income TaxG.P. addition - CIT(A) reducing the G.P. rate on the turnover - Held that:- It is undisputed fact that the assessee did not produce complete books of account with vouchers for verification by the assessee as the assessment was made U/s 144 of the Act. However, the ld CIT(A) had called for remand report from the Assessing Officer, who has proposed the G.P. rate after verification of the certain bills @ 30.73% as against 25.35% applied by the Assessing Officer. However, the ld CIT(A) found defect in the computation of G.P. rate, which was calculated on purchases bill but as per accountancy, the G.P. rate is always calculated on sale, which has rightly been applied by the ld CIT(A). After examining the defect, the ld CIT(A) came to conclusion that 20.72% G.P. rate is applicable in assessee’s case on enhanced sale. Therefore, the ld CIT(A) has thoroughly analysed the remand report and assessee’s submissions, which has not been controverted by the ld DR. Therefore, we uphold the order of the ld CIT(A). - Decided against revenue Unexplained loan - CIT(A) deleted addition - Held that:- CIT(A) admitted the additional evidence even without passing order on admitting the additional evidence in his order. The assessee had not furnished any evidence before the Assessing Officer as he was non-cooperative at the time of assessment proceedings. Even creditors are assessed with the same Assessing Officer. It is settled law that the assessee has to furnish the required details with confirmation before the Assessing Officer for any claim. However, the technical defects found in the order of the ld CIT(A) is waived as minor son’s income is clubbed in the hands of assessee himself and explanation for assessee’s mother loan had been filed, therefore, we do not intervene in the order of the ld CIT(A) on technilities. Accordingly, we uphold the order of the ld CIT(A). - Decided against revenue
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