2015 (3) TMI 273

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..... fit rate of 17.22% on basis of the case of M/s. Tarsem Kumar & Co., but the same was distinguishable on facts. The Commissioner of Income Tex on examination of peculiar facts of the instant case, arrived at the conclusion that the highest gross profit rate of immediately 2 previous assessment orders should be accepted as gross profit rate. Accordingly, the rate of 7.19% was applied. The orders pas .....

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..... arned Commissioner of Income Tax (Appeals) after considering submissions of the assessee arrived at a conclusion that the case quoted by the assessing officer was not applicable in the case in hand. Learned Commissioner of Income Tax (Appeals) directed the assessing officer to apply gross profit rate of 7.19%. The Revenue assailed validity of the order passed by the Commissioner of Income Tax by w .....

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..... ss profit rate noticed that the assessing officer while rejecting the books of accounts applied gross profit rate of 17.22% on basis of the case of M/s. Tarsem Kumar Co., but the same was distinguishable on facts. The Commissioner of Income Tex on examination of peculiar facts of the instant case, arrived at the conclusion that the highest gross profit rate of immediately 2 previous assessment o .....

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