9911796707
TMI Blog2014 (9) TMI 1153X X X X Extracts X X X X X X X X Extracts X X X X ..... Maratha, Judicial Member And Shri N.K. Saini, Accountant Member. Assessee by : Shri Amit Kothari. Department By : Shri Mahesh Kumar - D.R. ORDER Per N.K. Saini, A.M This is an appeal by the assessee against the order dated 03/03/2014 of Ld. CIT(A), Jodhpur. The following grounds have been raised in this appeal: "1. The Ld. CIT(A) erred in law as well as on the facts and circumstances of the case in holding that the Assessing Officer has passed the assessment order after providing the proper and reasonable opportunity to the appellant. 2. The Ld. CIT(A) erred in law as well as on the facts and circumstances of the case in confirming that the Assessing Officer was justified in rejecting the books of accounts of the appellant applyi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he company G.P. rate Turnover 1 Murawatia Marbles Pvt. Ltd., Rajsamand 18.82% ₹ 81,80,876/- 2 Bholenath Marbles Pvt. Ltd., Rajsamand 19.00% ₹ 98,90,854/- 3 Marutinandan Marbles Pvt. Ltd. Rajsamand 20.04% ₹ 98,42,585/- 4 Mecson Marbles Pvt. Ltd. Rajsamand 24.30% ₹ 92,21,488/- 5 Shri Balaji White Marmo Stone Pvt. Ltd. Rajsamand 25.88% ₹ 54,44,815/- The Assessing Officer applied gross profit rate of 20% and made the trading addition of ₹ 8,48,452/-. 4. Being aggrieved, the assessee carried the matter to the ld. CIT(A), who sustained the addition of ₹ 1,84,253/- by estimating the gross profit rate at 15% instead of 20% estimated by the Assessing Officer. The Ld. CIT(A) held that ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 34 TW 80 (ITAT - JP) 8. ACIT Vs. Ram Shay Wool Combers 2 SOT 592. 9. Jupitor Textiles Vs. ITO 77 TTJ 735. 10. Shanker Rice Co. Vs. ITO (2000) 67 TTJ (ASR) (SB) 84. 6. In his rival submissions, the learned D.R. strongly supported the order of the Assessing Officer and further submitted that books of accounts maintained by the assessee were defective, therefore, the addition was rightly made by the Assessing Officer on the basis of the gross profit rate declared by the comparable cases. 7. We have considered the submissions of both the parties and carefully gone through the material available on record. In the present case, it is an admitted fact that the gross profit rate declared by the assessee for the year under consideration was at ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
