2012 (10) TMI 1019

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..... der consideration. The Tribunal further noted that such method of accounting followed by the assessee had been accepted by the revenue in earlier years. The Tribunal was, therefore, of the opinion that the Assessing Officer's decision to reject the book results during the year under consideration was not justified. We are of the opinion that the Tribunal committed no error. If as per the accoun .....

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..... in law and on facts in deleting the addition of ₹ 27 ,85,925/- in respect of estimated gross profit? (B) Whether the Appellate Tribunal is right in law and on facts in deleting the addition of ₹ 3,56,878/- in respect of deemed dividend under section 2(22)(e) of the I.T. Act, 1961? 2. Insofar as the question A is concerned, we notice that the Assessing Officer had made additio .....

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..... ount cannot be treated as trading receipt of the year under consideration. The Tribunal further noted that such method of accounting followed by the assessee had been accepted by the revenue in earlier years. The Tribunal was, therefore, of the opinion that the Assessing Officer's decision to reject the book results during the year under consideration was not justified. 4. We are of the opi .....

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