1988 (11) TMI 145

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..... rading results. The assessing officer found that assessee had shown Gross Profit rate only at 8.25 per cent as against higher percentage declared in earlier years. The assessee explained that there was substantial increase in the sales, cut throat competition in the market besides the fall in gross profit rate was much lower. Again the assessee was concerned with maximising of the net profits. Not .....

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..... ital if compared was 64 per cent as against 28 per cent shown by the other case. The Departmental Representative relied upon the orders passed by the First Appellant Authority. 2.3. In our opinion, there is no justification to sustain an addition. Even if there is slight fall in Gross Profit rate, yet we find that the assessee had declared more income in the return. Therefore, the version that t .....

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..... ve break up of the expenses according to r. 6D of the IT Rules. The same was not submitted. Considering the history of the case, the disallowance was made by the Assessing Officer. We decline to interfere. 5. The assessee made a claim under s. 80G in respect of an amount of Rs. 501 paid to Gaushala. In absence of appropriate receipt clarifying that receiving trust was formed for charitable purpo .....

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