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TMI Blog2013 (11) TMI 207X X X X Extracts X X X X X X X X Extracts X X X X ..... e assessment year 2006-07 is directed against the order of the CIT(A)- I, Surat dated 8.1.2010. 2. The only ground of the appeal of the Revenue is as under:- 1. On the facts and circumstance of the case and in law, the ld.CIT(A) has erred in deleting the addition made by the AO of Rs.9,83,904/-on account of law GP." 3. The learned DR submitted that the AO has recorded that there was no day-to-d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ge no.19 to 60 with supporting bills of purchase, item-wise in the compilation filed before the Tribunal and the copies of the same was filed before the AO. He submitted that there is no specific ground taken by the Revenue that the books of accounts were wrongly accepted by the CIT(A), and therefore no GP addition could be sustained. The learned counsel for the assessee referred to the written re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ver, we find that the turnover of the assessee has increased from Rs.2.15 crores of the immediately preceding assessment year to Rs.4.91 crores during the relevant period. This case seems to be based on wrong appreciation of the facts on the part of the AO. The assessee has filed item-wise day-to-day stock register details with supporting bills of purchases before the AO, copy of which has been fi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and excise record are maintained and the produce-wise quantitative details were submitted to the AO and the valuation of the closing stock with supporting bills was submitted to the AO and that all the purchases and sales are supported by the bills and vouchers and the assessee has maintained all the records which are compulsorily to be maintained under the Income Tax Act, and the there was no de ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er valued. The AO could not point out any defects in the account books along with bills and vouchers produced by the assessee. The CIT(A) has noted that there is no adverse remark in the audit report regarding the assessee maintaining the day-to-day stock register. In these facts, we hold that there is no reason to interfere with the order of the CIT(A), which is accordingly confirmed and the grou ..... X X X X Extracts X X X X X X X X Extracts X X X X
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