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TMI Blog2013 (7) TMI 526X X X X Extracts X X X X X X X X Extracts X X X X ..... se any question of law - Decided against Revenue. - Income Tax Appeal No.-547 of 2009 - - - Dated:- 12-7-2013 - Hon'ble Sunil Ambwani And Hon'ble Surya Prakash Kesarwani,JJ. For the Appellant : A. N. Mahajan/S. C., Dhananjai Awasthi For the Respondent : R. P. Agrawal ORDER We have heard Shri Dhananjai Awasthi, learned counsel appearing for the department. Shri R.P. Agrawal appears for the respondent-assessee. This Income Tax Appeal filed under Section 260-A of the Income Tax Act arises against the order of Income Tax Appellate Tribunal, Allahabad Bench, Allahabad dated 16.3.2009 in respect of assessment year 2002-03. This Income Tax Appeal has been preferred by the department on following substantial questions of law: ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t report. The GP rate shows that there were some improvements in the result of the company. Therefore, the loss in the normal course of business. In the immediate preceding year %age of loss was 11.43% while in the year under consideration is 7.08%. He further submitted that after ascertaining the same no such addition can be made. He submitted that the assessee maintained complete stock registers at all the branches and its registered were produced before the AO. Therefore, such addition/disallowances were not justified. 6. While replying the pleading of the ld. AR, the ld. DR submitted that the ld. CIT(A) has allowed relief without any basis. The AO has recorded sufficient reasons for excess consumption of tendu leaves. He submitted tha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the AO's addition 1/3rd, was found to be reasonable. The Tribunal also considered that the AO had, after considering the fact that the Tendu patta was a natural produce and that its quality and size varies from year to year, made the addition of Rs.82,45,933/- of which the CIT (A) sustained the addition of 1/3rd of the amount. The findings recorded by ITAT are findings of fact based on their assessment of the material on record, which do not raise any question of law. We do not find any error of law misreading of material by ITAT, or perversity in recording such finding to interfere in the appeal. The ITAT has given reasons on which CIT (A) justified addition of 1/3rd of the amount. The Income Tax Appeal is dismissed. Shri Dhanan ..... X X X X Extracts X X X X X X X X Extracts X X X X
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