TMI Blog2017 (12) TMI 863X X X X Extracts X X X X X X X X Extracts X X X X ..... n the basis of the past history of the assessee. - Decided against revenue - D. B. I. T. A. No. 628 of 2009. - - - Dated:- 14-9-2017 - K. S. Jhaveri And Vijay Kumar Vyas JJ. For the Appellant : Daksh Pareek for Sameer Jain For the Respondent : Mahendra Gargieya JUDGMENT 1. By way of this appeal, the appellant has assailed the judgment and order of the Tribunal whereby the Tribunal has dismissed the appeal of the Department and confirmed the order of the Commissioner of Income-tax (Appeals). 2. This court while admitting the appeal on November 11, 2009 framed the following substantial question of law : Whether in the facts and circumstances of the case, the learned Income-tax Appellate Tribunal was right in law ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 659 section- 6, R. K. Puram New Delhi 110022, it was found that 484 pieces were given for stitching on various dates. 4. Counsel for the appellant has contended that the Commissioner of Income-tax (Appeals) has wrongly allowed the appeal preferred by the assessee which has been confirmed by the Tribunal. 5. He further contended that the Assessing Officer while considering the matter observed as under : Thus, the costing produced during the assessment proceedings has numerous discrepancies/deficiencies and appears to have been calculated with the gross profit result declared in mind. The costing has no reasonable basis is based on conjecture and surmises and no evidence is offered as to the mode of arriving at the figures of costi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... unt, the Assessing Officer was fully justified in rejecting the books of account. Hence, the contentions of the learned authorised representative against the rejection of books of account by the Assessing Officer were not found acceptable and thus rejected. However, so far as the contentions regarding the estimation of gross profit at 23 per cent. of the turnover, on the basis of a comparable case of M/s. Avon Creations is concerned, I find force in the submissions made by the learned authorised representative pointing out that the case of M/s. Avon Creations was not comparable with the case of the assessee. I find that there is a substantial difference in the quantum turnover, nature of business, goods manufactured/traded, countries of exp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... annot be held to be an income derived from the export business. This view is supported by the decision of the hon'ble Kerala High Court in the case of K. Ravindranathan Nair v. Deputy CIT (Assessment) [2003] 262 ITR 669 (Ker). Accordingly, this ground of appeal is rejected. (ii) The next ground is against the hypothetical discussion of the Assessing Officer made in para 8 of the assessment order, whereby the Assessing Officer has stated that if at any stage the trading addition is deleted, then no deduction under section 80HHC would be allowable to the assessee as the assessee had no positive profit after deduction of 90 per cent. of the interest and duty drawback. However, in view of the findings given with reference to first ef ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
