TMI Blog2005 (2) TMI 769X X X X Extracts X X X X X X X X Extracts X X X X ..... ccountant Member - This appeal by revenue is directed against the order of learned CIT(A), Panaji, Goa, dt. 6th Nov., 2001. 2. The revenue has raised the following grounds before us: "The CIT(A) erred by allowing relief of Rs. 3,52,727 out of the total GP addition of Rs. 5,52,727 made by the Assessing Officer without giving any findings to reduce the GP addition to Rs. 2,00,000. The CIT(A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on of Rs. 2,00,000 as against Rs. 5,52,000 made by the Assessing Officer. 4. Learned Departmental Representative strongly supported the assessment order. He submitted that the assessee though dealing in as many as twenty varieties of betel nuts he is not maintaining day-to-day stock register in respect of each variety. The assessee has maintained total quantity details but not in respect of ea ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... evant facts and argument advanced, we are inclined to accept the finding of learned CIT(A). The fall in GP is not a criteria to reject the books of account. There is no provision in the Act which suggest that day-to-day stock register has to be maintained or in absence thereof the books of account are liable to be rejected. What is required to invoke proviso to section 145 or to reject book result ..... X X X X Extracts X X X X X X X X Extracts X X X X
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