2004 (11) TMI 302

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..... arned counsel for the assessee submitted that assessee does not want to press ground No. 1 relating to sustaining of a trading addition of Rs. 33,064 and disallowance of Rs. 2,212 out of rickshaw expenses. These grounds are, therefore, dismissed as not pressed. 3. The only issue now being agitated in this appeal relates to confirming an addition of Rs. 58,275 made under s. 40A(3). The facts of th .....

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..... lying the GP rate, it cannot be said that AO has allowed any deduction for cost of purchases. Therefore, no disallowance could be made under s. 40A(3). 5. The learned Departmental Representative simply relied on the orders of authorities below. 6. We have heard both the parties and given our thoughtful consideration to the rival submissions with reference to facts of the case. Now it is not in d .....

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