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2016 (12) TMI 298 - AT - Income TaxG.P. rate determination - Held that:- As find some force in the argument of the Ld. Counsel for the assessee that if the huge addition as made by the Assessing Officer and upheld by the CIT(A) is considered, then the GP rate comes to 23.34% which is much more than the GP shown in the immediately preceding assessment year, i.e. A.Y. 2009-10 at 19.39%. Considering the totality of the facts of the case and in the interest of justice, I am of the considered opinion that adoption of 21% of GP under the facts and circumstances of the case will meet the ends of justice. I hold and direct accordingly. Accordingly, the Assessing Officer is directed to recompute the GP and make suitable addition.- Decided partly in favour of assessee
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