9911796707
TMI Blog2013 (12) TMI 593X X X X Extracts X X X X X X X X Extracts X X X X ..... 2. The common ground reads as follows:- 1. On the facts and circumstances of the case and in law the Ld.CIT(A) has erred in deleting the addition made by the AO of Rs.41,23,828 (in the case of M/s.Alidhara Texpro Engineers Pvt.Ltd.) [and Rs.46,04,524 in the case of Alidhara Textool Engg.Pvt.Ltd.] on account of fall in G.P. ITA No.1853/Ahd/2010 - in the case of M/s.Alidhara Texpro Engg.P.Ltd. 2.1, Facts in brief as emerged from the corresponding assessment order passed u/s.143(3) of the Act dated 30/11/2009 were that the assessee- company is in the business of manufacturing of texturized machine and spare parts on job-work basis. The AO has noted that during the year under consideration the assessee has shown gross profit of Rs.3,67,79, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... .41,23,828/- is hereby added to the total income of the assessee on account of low G.P. Penalty proceedings u/s.271(1) are being initiated separately for failure eto disclose the true particulars of income / for furnishing inaccurate particulars of income or concealed the particulars of its income." 3. When the matter was carried before the first appellate authority, ld.CIT(A) has held that the AO had not mentioned any particular item of defect in the books of account. The AO had not brought on record any material to show that there was disproportionate consumption of raw- material. On facts, it was noted by the ld.CIT(A) that the assessee was required to manufacture Tailer made machine, therefore, the requirement of every customer was dis ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Likewise for A.Ys. 2003-04 & 2004-05, the Tribunal has held that all the items are subject to Excise Duty and no defect was noted by the AO in the Excise Register or other Registers maintained in respect of the excisable items manufactured by the assessee. In that decision, the Tribunal has cited CIT vs. Gotan Lime Khanij Udhyog 256 ITR 243 (Raj.) for the legal proposition that it is not always necessary to make an addition even if the books of accounts have been rejected. 5. Since a consistent view has regularly been taken in the past in the case of the assessee, therefore, respectfully following the past history, we hereby uphold the view taken by the ld.CIT(A). Before we part with the issue, it is worth to mention that the ld.AR has al ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
