9911796707
TMI Blog2022 (6) TMI 448X X X X Extracts X X X X X X X X Extracts X X X X ..... to the Assessment Year 2011-12. 2. The assessee has raised the following grounds of appeal: "1. The Ld. CIT(A) has erred on facts as well as in law in confirming estimation of GP as much high at 38% and making additions amounting to Rs.16,61,725/-. Th same needs deletion. 2. Without prejudice, the Ld. CIT(A) has erred on facts as well as in law in confirming estimation of GP as much high at 38% and making additions amounting to Rs.16,61,725/-. The same needs substantial reduction. 3. Taking into consideration legal, statutory, factual and administrative aspects addition/disallowance of Rs.16,61,725/- ought to have been confirmed. The same needs cancellation. 4. Taking into consideration legal, statutory, factual and administrative ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... immediate preceding year stands at 54.78%. It was explained by the assessee that there was high wastage of material which has reduced the gross profit ratio but the same was not substantiated based on the documentary evidence. ii. The assessee was not claiming the reimbursement of airfare charges from its customers. The reasons for the same were not explained satisfactorily by the assessee. iii. There was no satisfactory explanation furnished by the assessee with respect to the prior period expenses debited in the year under consideration. iv. There were certain defects and infirmities in the salary registers which was not maintained properly. Likewise, there were also mismatch in the signatures on the vouchers prepared by the assesse ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 29,59,826/-. The AO has objected to this submission which was raised for the 1st time before CIT(A) and was never raised before the AO. Thus the AO is not disputing the veracity of Debit note, he is only objecting to its admissibility of this new claim of altering the figure of Gross Turnover by adding back the figure of "Sales Return". I d o not agree with the AO that this issue cannot be raised now. I allow this issue to be raised and to be considered. 7.4 What was agreed between the appellant and the AO was to substitute declared Gross Profit @ 17.05%to @ 38%. The declared Gross Profit of 17.05% was computed by the AO after excluding the Debit note of Rs.29,59,826/- from the Gross turnover of appellant. Gross turnover of appellant was ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the written submissions which are reproduced as under: "The only issue involve after the decisions of Ld. A.O. regarding withdrawal of exemption granted by himself u/s.10A is discussed at para 9 page 4 of the Assessment order and also confirmed by the Ld. CIT Appeal. This issue had already been considered by the Hon. ITAT Rajkot Bench in the case of assessee for A.Y. 2009-10 in ITA No.64/RJT/2014 (Copy Enclosed). Considering this it is humbly prayed that the appeal may kindly be allowed granting deduction u/s.10A by the Ld. A.O. and then withdrawn by himself the same amounting to Rs.1,38,597/-" 9. On the other hand, the learned DR vehemently supported the order of the authorities below. 10. We have heard the learned DR and perused the m ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
