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TMI Blog2013 (3) TMI 693X X X X Extracts X X X X X X X X Extracts X X X X ..... s appeal of the revenue for A.Y. 2008-09 is directed against the order of ld. CIT(A) dated 02/08/2012. 2. The assessee-firm derives income from execution of Civil Contract Works. During the F.Y. 2007-08, the Assessee-Firm has declared income of ₹ 9,85,335/- before allowing interest and remuneration to partners; and also depreciation. The assessee has maintained complete books of accounts. O ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and has accepted the same. However, in defence, the reasons given by ld. CIT(A) to restrict the trading addition to ₹ 60,133/-, have been reiterated by ld. A.R. 3. After considering the rival submissions, we have found it for a fact that the following chart, undisputedly, depicts the gross and net profits of the two consecutive assessment years, as under :- Assessment Year Total Contract ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... levant factor for trading results instead of comparison of the N.P. Rate. The gross profit rate in this year is better than the past year. Accordingly, we confirm the impugned reduction of the trading addition to ₹ 60,133/- and do not find any reasons to interfere in the finding of the ld. CIT(A). 4. The Ground No. (ii) relates to interest income of ₹ 1,73,281/- as assessee's business ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... voluntary deposit. Therefore, the logic of ld. CIT(A) in deleting this addition is correct and therefore, we uphold the same. Accordingly, ground No. (ii) is also dismissed.
5. Ground No. (iii) is general in nature and needs no adjudication.
6. In the result the appeal of the revenue is dismissed.
Order pronounced in the open court on 14th March, 2013 X X X X Extracts X X X X X X X X Extracts X X X X
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