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TMI Blog2023 (3) TMI 1569X X X X Extracts X X X X X X X X Extracts X X X X ..... in the circumstances of the case, the Ld. CIT(A)-2, Nashik erred in deleting the addition on account of low Melting gains shown by the assessee compared to earlier financial years. 2. On the facts and in the circumstances of the case and in law, the order of the CIT(A), NFAC, be cancelled on the above issue and that of the A.O. be restored. 3. The appellant craves leave to add, alter, modify, delete amend any of the grounds with prior permission of the Hon'ble CIT, as per the circumstances of the case." 2. The brief facts of the case are that the assessee firm filed its original return of income electronically for the A.Y. 2017-18 on 25.10.2017 declaring total income of Rs.Nil. The assessee return was selected for complete scrutiny ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssee. The AO in para 6 sub para 3 has held as under: "3. Further, it is true that the melting gain depends on the purity of old ornaments or gold given by the customers. However, the melting gain ratio shown by the assessee is less than its own melting gains shown for the previous years. 4. The average value of the melting gains in the market is around 4-6%. Therefore, considering the above reasons and the melting gains of AY 2013-14, the melting gains is adopted at 6%." 4. Aggrieved by the addition, the assessee filed appeal before the ld.CIT(A). The ld.CIT(A) allowed this ground of the assessee. In para 8.3, the ld.CIT(A) has held as under: "8.3 In this regard, in appellant's own case, the Hon'ble ITAT, Pune in ITA ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s never been questioned by the revenue. In our opinion, there is no justification to support the addition made by the AO and confirmed by the Ld. CIT(A) in respect of alleged suppression of the melting gain. We accordingly delete the said addition. In the result, respective grounds taken by the assessee are allowed. Respectfully following the decision of Hon'ble ITAT Pune, wherein the facts of the case are squarely applicable in the case of the appellant, Therefore, I am of the considered view that the A.O. is not justified in making addition of Rs. 1,94,05,998/- on account low melting gain. Therefore, the addition of Rs.1,94,05,998/- made by the A.O. is deleted and the ground of appeal raised by the appellant is allowed." 5. Aggr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rounds of appeal raised by the Revenue are dismissed. 7. In the result, appeal of the Revenue is dismissed." 5. On the other hand, the ld.Departmental Representative(ld.DR) of the Revenue fairly accepted that the issue is covered in favour of the assessee. 6. We have heard both the parties and perused the records. No distinguishing facts raised by the ld.DR. The Revenue has not brought on record any facts to distinguish the ITAT order in assessee's own case for earlier years. 6.1 In view of the above, we adopt the foregoing reasoning of assessee's own case(supra) of ITAT Pune Bench for A.Y.2009-10, 2014-15, accordingly, grounds of appeal raised by the Revenue are dismissed. 7. In the result, appeal of the Revenue is Dismissed. Orde ..... X X X X Extracts X X X X X X X X Extracts X X X X
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