2012 (10) TMI 613

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..... peal under Section 260A of the Income Tax Act, 1961 against the order of the Income Tax Appellate Tribunal dated 14.8.2008 for the assessment year 2003-04 has been filed on the following questions of law:-   "(1) Whether on the facts and in the circumstances of the case, the Tribunal is justified in law in deleting the addition of Rs.13,64,441/- made on account of difference in Gross Profit, .....

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..... ne out of fashion and had become unsalable and that discounts were given to the customers at about 10-15%. The Tribunal accepted the explanation and reduced the gross profit rate from 16.87%, which the A.O. had worked out after rejecting the account at 15.7%. The addition at Rs.68,800/- on account of dis-allowance of the salary was maintained. We are of the opinion that the questions raised by th .....

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