TMI Blog2011 (3) TMI 1739X X X X Extracts X X X X X X X X Extracts X X X X ..... am Ajay Singh. O R D E R Per T.R.SOOD, AM : The appeal by the Revenue and the cross objection by the assessee are heard together and are disposed of by this consolidated order. 3. I.T.A.No.5927/M/09: In this appeal, Revenue has raised the following ground: On the facts and in the circumstances of the case the Ld. CIT[A] erred on facts as well as in law to restrict the est ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e of business basically there is very low profit margin and the From the above, it is clear that the issue is only regarding estimation of profits after rejection of the books of account. 5. After hearing both the parties, we find that an identical issue came up for consideration before the Tribunal in I.T.A.Nos.3024 to 3028/Mum/08 for A.Yrs.2001-02 to 2003-04 and 2005-06 and C.O.Nos.162 to 166 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... assessee is not reasonable and not on consonance with the facts of the present case, as the entire purchases and entire sales were not non-genuine. The said GP rate may not be applicable, in respect of export business. The AO has treated the purchases from the alleged 16 parties as bogus purchases. No adverse finding has been given by the AO, in respect of remaining purchases. Therefore, uniform ..... X X X X Extracts X X X X X X X X Extracts X X X X
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