1976 (2) TMI 91

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..... similar contentions and they were heard together. They are disposed of by a common order for the sake of convenience. When both the matters were called out for hearing, no-one appeared on behalf of the assessee though the notice of the hearing had been served on the assessee. In the circumstances, I have heard Shri Habib Ahmad, the ld. Deptl. Rep. and I am disposing of those matters on merits aft .....

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..... assessee is unreasonably low is examined. I find that the margin disclosed is about 9.3 per cent on sales of about Rs. 6,37,000. This appears quite favourable as compared with the margin disclosed in earlier assessment years when the sales were much less. A similar addition made in asst. yr. 1973-74 was deleted in appeal. Small addition in lump-sums were made in the assessment from 1969-70 to .....

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..... particulars of the margin of profit of the merchants of Durg in earlier assessment year. Therefore, I cannot say whether the margin shown by these merchants can be considered as of any guidance in the case of the assessee. 5. Having regard to the available material and all the circumstances of the case, I hold that the margin of profit disclosed by the assessee is not unreasonably low. Therefore .....

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