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TMI Blog2019 (1) TMI 461X X X X Extracts X X X X X X X X Extracts X X X X ..... order dated 08.12.2016, passed by the learned CIT(A), in the matter of assessment under section 143(3) of the Income Tax Act, 1961, for the assessment year 2012-13. 2. The grievances raised in the appeal are as follows :- (1) Learned A.O. erred in making addition of Rs. 3,61,005/- on the basis of lower gross profit margin. (2) Learned A.O. erred in disallowing various expenses for Rs. 1,19,2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ns of section 145 of the Act and Gross Profit margin of the assessee was estimated at 4.22% as against the Gross Profit margin of 3.9% disclosed by the assessee. Aggrieved, assessee carried the matter in appeal before the ld. CIT(A). It was submitted by the assessee that the fall in Gross Profit margin is only marginal. In any case, the Gross Profit rate can never remain static as it is affected b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t cannot be, according to the ld. Counsel, before the CIT(A) reasons enough for impugned addition. Ld. CIT(A) did not yield these submissions and in a very scholarly analysis observed that when the assessee voluntarily accepted the addition, it cannot give rise to further appeal. The impugned addition was thus confirmed by the ld. CIT(A). The assessee is not satisfied and is in further appeal befo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... .P. rate from year to year particularly when the assessee is dealing in such products as electric goods where Gross Profit margin not only varies from item to item but from season to season. I am, therefore, of the considered view that the impugned addition thus not deserves to be sustained on merits. 6. As regards the stand of the Departmental Representative that the assessee himself has agreed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r some discussions, ld. counsel for the assessee fairly submitted that he does not wish to pursue this issue further but prayed that this fact should not be put against him in the penalty proceedings or in the subsequent proceedings. 9. While I take on record the stand so taken by the ld. Counsel, I see no need to adjudicate this matter on merits. This ground of appeal is thus dismissed as not pr ..... X X X X Extracts X X X X X X X X Extracts X X X X
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