Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2015 (9) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2015 (9) TMI 1340 - AT - Income TaxAddition on account of suppression of profit - CIT(A) deleted the addition - Held that:- CIT(A) while deleting the addition has noted that no defect or the differences in the product, process, raw materials, end users etc. have been pointed by Revenue and the A.O has proceeded to calculate the income of the 2 units on a wrong assumption. He has further noted that the addition has been made on a hypothetical formula by the A.O. CIT(A) while deleting the addition has also relied on the decisions of Ahmedabad Tribunal of Associated Petroleum Corporation [2010 (8) TMI 755 - ITAT AHMEDABAD] and the decision of Hon’ble Gujarat High Court in CIT vs Vikram Plastics (1998 (8) TMI 43 - GUJARAT High Court) which has not been controverted by Revenue before us. In view of the aforesaid facts, we find no reason to interfere with the order of ld. CIT(A) and thus this ground of Revenue is dismissed. - Decided against revenue.
|