TMI Blog2016 (11) TMI 799X X X X Extracts X X X X X X X X Extracts X X X X ..... the similar business. That, however, cannot be the only ground for the purpose of determining the gross profit rate. CIT(Appeals) has dealt with the case of M/s. Pardeep Publication in considerable detail and found substantial differences between the assessee and M/s. Pardeep Publication. The publications of the two were also produced before the authorities. The assessee's books are of a higher q ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , it was 25.34 per cent. The Tribunal did not, therefore, find the gross profit rate to be erroneous. - Decided against revenue - I. T. A. No. 233 of 2016 (O&M) - - - Dated:- 30-8-2016 - S. J. Vazifdar, CJ And Deepak Sibal, J. For the Appellant : Rajesh Katoch, Advocate For the Respondents : Pankaj Jain, Senior Advocate, with Sachin Bhardwaj and Divya Suri, Advocates JUDGMENT ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d Commissioner of Income- tax (Appeals) deleting the addition of ₹ 2,69,00,000 made on account of low gross profit rate, especially in view of its own decision of upholding the rejection of books of account in terms of section 145(3) of the Income-tax Act, 1961 and reversing the decision of the learned Commissioner of Income-tax (Appeals) on this ground but not upholding the consequential es ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the purpose of determining the gross profit rate. The Commissioner of Income-tax (Appeals) has dealt with the case of M/s. Pardeep Publication in considerable detail. There are substantial differences between the assessee and M/s. Pardeep Publication. The publications of the two were also produced before the authorities. Some of the important differences are as follows. The assessee's books a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nt. In the year in question, it was 25.34 per cent. The Tribunal did not, therefore, find the gross profit rate to be erroneous. 8. From the above facts it is clear that the determination of the gross profit rate in this case was essentially a question of fact. There is nothing to indicate that the discretion exercised in this regard by the Commissioner of Income-tax (Appeals) and the Tribunal ..... X X X X Extracts X X X X X X X X Extracts X X X X
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