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TMI Blog2014 (8) TMI 951X X X X Extracts X X X X X X X X Extracts X X X X ..... to decide the issue afresh. - Matter remanded back - Decided in favour of assessee. - I.T.A. No. 168/DEL/2013 - - - Dated:- 20-8-2014 - Shri H. S. Sidhu And Shri J. S. Reddy,JJ. For the Petitioner : Sh. JS Kochar, CA and US Kochar, Adv. For the Respondent : Sh. Ramesh Kumar, Sr. D.R. ORDER Per H. S. Sidhu : JM This appeal by the Assessee is directed against the order of the Ld. Commissioner of Income Tax (Appeals)-XVIII, New Delhi dated 1.11.2012 pertaining to assessment year 2007-08. 2. The grounds raised in the appeal read as under:- 1. That the learned CIT(A) erred in upholding the adoption of net profit rate of 5% of the turnover by the Assessing Officer, without any empirical evidence or basis and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1 is concerned, the AO rejected the books of accounts and adopted 5% GP rate on the total sales and similarly, the Ld. CIT(A) in appeal upheld the same ratio as adopted by the AO i.e. 5% on the total sales. 3. Against the above order the Assessee is in appeal before us. 4. We have heard both the counsel and perused the records. Ld. DR relied upon the orders of the authorities below and requested the same may be upheld. On the other hand, Ld. Counsel of the assessee has filed a Paper Book having pages 1 to 119 containing the documents/evidence filed before the lower authorities viz. written submissions before CIT(A); copy of tax audit report, balance sheet, notices etc. etc. It is contention of the Ld. Counsel of the assessee that the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... assessee that the same AO has adopted the net profit @ 1.21% on the total sales of the same assessee in the succeeding year i.e. A.Y. 2008-09, which the Ld. CIT(A) has also not considered. In view of the above, we are of the opinion that in the interest of justice, the matter needs to be considered in detail by the AO and assessee may be given one more opportunity to canvass his case to substantiate the claim before the AO, after producing relevant books of accounts and other documents, if any, to enable him to decide the issue afresh. We hold and order accordingly. 5. The brief facts with regard to ground no. 4 and 5 relating to house hold expenses is concerned, the AO has computed ₹ 3 lac as expenditure on household withdrawals a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dopted in terms of estimation adopted by the same AO in the year 2008-09. We also find that there is considerable cogency in the submissions of the assessee that the same AO has estimated the household expenses without any basis and also not following the estimation following in the asstt. year 2008-09 and also Ld. CIT(A) has not considered the same. In view of the above, we are of the opinion that in the interest of justice, the matter needs to be considered in detail by the AO and assessee may be given one more opportunity to canvass his case to substantiate the claim before the AO, after producing relevant books of accounts and other documents, if any, to enable him to decide the issue afresh. We hold and order accordingly. 8. In the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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