2013 (7) TMI 1125

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..... K.K.Gupta, AM The Revenue is in appeal raising the solitary issue that whether on the facts and circumstances of the case the ld. CIT(A) was justified in directing the AO to tax the gross receipt including the disclosed and undisclosed receipt at the net rate of 10%. 2. At the outset, the ld. Counsel for the assessee respondent submitted that the issue stands covered by the decision of the Trib .....

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..... been pointed out in the Cross Objection.. 3. The ld. DR, in view of the Tribunal's finding as relied on by the ld. CIT(A), supported the order of the ld.AO for his part of submissions. 4. We have heard the rival submissions and carefully perused the material available on record. On our careful consideration of the facts and circumstances of the case we are inclined to hold that the issue stands .....

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..... here to the submissions of the assessee appellant before it as the facts and circumstances could only lead to the finding that such income was to be taxed at 10%. In this view of the matter we do not find any infirmity in the order of the ld. CIT(A) which is upheld resulting in dismissal of the appeal filed by the Revenue as well as the Cross Objection filed by the assessee respondent. 5. In the .....

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