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TMI Blog2013 (12) TMI 593X X X X Extracts X X X X X X X X Extracts X X X X ..... haturvedi,JJ. For the Appellant : Shri T. Shankar, Sr. D. R. For the Respondents : Shri Mehul Shah, A. R. ORDER Per Shri Mukul Kr. Shrawat, Judicial Member :- Both these appeals have been filed by the Revenue in the case of different assessees arising from the separate orders of ld.CIT(A)-I, Surat identically dated 24/03/2010 passed for A.Y. 2007-08. Since the issue involved in both the appeals is identical, therefore for the sake of convenience, the same are disposed of by a common order. 2. The common ground reads as follows:- 1. On the facts and circumstances of the case and in law the Ld.CIT(A) has erred in deleting the addition made by the AO of Rs.41,23,828 (in the case of M/s.Alidhara Texpro Engineers Pvt.Ltd.) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... raw materials and other consumables and increase in sales turnover and also the facts and circumstances of the case, it would be fair and reasonable to estimate the G.P. ratio of the assessee for the year under consideration at 2% above the G.P. ratio shown by the assessee which comes to 19.87%. Accordingly the gross profit of the assessee for the year under consideration is estimated at Rs.4,09,03,740/- as against the gross profit of Rs.3,67,79,912/- shown by the assessee. Therefore, the difference amount of Rs.41,23,828/- is hereby added to the total income of the assessee on account of low G.P. Penalty proceedings u/s.271(1) are being initiated separately for failure eto disclose the true particulars of income / for furnishing inaccurat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... neers ITA Nos.925 Pvt.Ltd. (cross-appeals) 3777/Ahd/2007 and ITA Nos.1042 3591/Ahd/2007 for A.Ys.2003-04 2004-05 ITAT "C" Bench Ahmedabad order dated 11.06.2010 4.1. Keeping brevity in mind, we hereby conclude that on identical facts the Respected Co-ordinate Benches have consistently rejected the stand of the Revenue Department by deleting the GP addition. For A.Y. 2006-07, the Tribunal has followed an earlier order of A.Y. 2005-06, wherein it was held that for a small variation in GP it was not justified to reject the books of accounts and to make a GP addition. Likewise for A.Ys. 2003-04 2004-05, the Tribunal has held that all the items are subject to Excise Duty and no defect was noted by the AO in the Excise Register o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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