2013 (3) TMI 514

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..... the Income Tax Act, 1961 (for short the 'Act') claiming following substantial question of law as arising out of the order ofthe Income Tax Appellate Tribunal (for short the 'Tribunal') dated 18.2.1997 in relation to the assessment year 1987-88 for consideration: - "Whether, on the facts and in the circumstances of the case, the learned Income Tax Appellate Tribunal is right in law in reversing t .....

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..... ofit rate applied for the year 1985-86 was affirmed by the Commissioner of Income Tax (Appeals), though the appeal was pending before the Tribunal. The question whether 20% or 19.72% gross profit rate should be applied, is the question of fact. Learned Tribunal has applied gross profit rate of 19.72% as such rates were applied in the earlier years of assessment. Consequently, we do not find any .....

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