2002 (9) TMI 8

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..... e explanation furnished by the assessee – Tribunal hold that “In the absence of a definite finding that the case of the assessee comes within the ken of the first proviso to section 145(1), it is not possible for the Assessing Officer to reject the book results and make addition to the gross profit.” – Held that Tribunal was right in rejecting the reference application filed by the Department – Pe .....

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..... ssee. The Tribunal also found as under: "In the absence of a definite finding that the case of the assessee comes within the ken of the first proviso to section 145(1), it is not possible for the Assessing Officer to reject the book results and make addition to the gross profit. The mere fact that the profits are low compared to the earlier year is not a circumstance or material aliunde which co .....

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