2010 (3) TMI 1154

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..... UDGMENT (Per : HONOURABLE MR. JUSTICE D.A.MEHTA) 1. This appeal filed under Section 260-A of the Income- Tax Act, 1961 (the Act) by Revenue proposes following question:- Whether the Appellate Tribunal is right in law and on facts in confirming the order passed by the CIT(A) and thereby deleting the addition of ₹ 54,38,457/- by adopting adhoc GP of 5% though the Assessing Offic .....

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..... CIT(A) has erred in law and on facts in deleting the addition of ₹ 54,38,457/- by adopting adhoc GP of 5% though the AO has discounted GP rate @5% as against comparable GP rate of 7.81% considering increase in various costs relied upon by the CIT(A). 4. The Tribunal has deleted the addition holding that the finding of Commissioner (Appeals) that books of accounts could not be rejected un .....

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..... s. Even on facts, when one considers the submissions made by the departmental representative before Tribunal, as recorded in paragraph no.3 of the impugned order dated 02nd May, 2008, it becomes clear that at no stage was it ever urged that Commissioner (Appeals) had wrongly cancelled rejection of books of accounts. 7. In the circumstances, in absence of any error in the impugned order of Tribu .....

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