2013 (8) TMI 444

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..... of the confirmed view that when the assessee had shown better results in the current year, the other related omissions/shortcomings towards books of account became insignificant and redundant, therefore, no trading addition could have been made in such a situation - Decided against Revenue.
Shri Hari Om Maratha And Shri N. K. Saini,JJ. For the Petitioner : Shri G. R. Kokani, D.R. For the Respondent : Shri U. C. Jain ORDER Per N. K., Saini:- The appeal by the Department and the Cross Objection by the assessee are directed against the order dated 01/08/2012 of learned CIT(A)-III, Jaipur. The Registry has pointed out that the Cross Objection is belated. The assessee has filed an application for condonation of delay stating therein a .....

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..... ct. 2. The order of CIT(A) is contradictory and hence perverse in restricting the addition made by the AO, even while holding that the ad hoc addition sustained by CIT(A) is essential in view of "incriminating aspects and leakage of income if any." 3. The CIT(A) has erred in holding that the addition of Rs.2 lakhs would suffice in the facts and circumstances of the case. 4. The appellant craves leave to add, alter, amend, withdraw or insert any ground or grounds of appeals before or at the time of hearing of the appeal." 6. In its Cross Objection the assessee has raised the following grounds: "1. That on the facts and in the circumstances of the case, the learned CIT(A) erred in sustaining an addition of Rs.2,00,000/- in the contract a .....

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..... plying the net profit rate after rejecting the books of account, the past history of the assessee would be one of the most reliable guideline. The reliance was placed on the following case laws: (i) M/s Inani Marbles 316 ITR 125 (Raj) (ii) M/s Action Electricals 258 ITR 188 (Del) 10. The learned CIT(A) further observed that the assessee had shown Net profit rate of 3.51% for the year under consideration as against 2.75% in the previous year, therefore, the trading results were better. He was also of the view that the assessee had shown better results in the current year, the other related omissions/shortcomings towards books of account become insignificant and redundant, therefore, no trading addition could have been made in such a situa .....

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