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TMI Blog2019 (7) TMI 1224X X X X Extracts X X X X X X X X Extracts X X X X ..... of law. In view of the concurrent findings of fact recorded by two revenue authorities against the revenue, we are not inclined to disturb such finding. In the result, this appeal fails and is hereby dismissed. - R/TAX APPEAL NO. 413 of 2019 And R/TAX APPEAL NO. 414 of 2019 - - - Dated:- 16-7-2019 - MR J. B. PARDIWALA AND MR A. C. RAO, JJ. For The Appellant (s) : MRS MAUNA M BHATT (174) ORAL ORDER ( PER : HONOURABLE MR.JUSTICE J.B.PARDIWALA) 1.00. This appeal under section 260(A) of the Income Tax Act, 1961 (for short the Act, 1961 ) is at the instance of the revenue and is directed against the order passed by the Income Tax Appellate Tribuna ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... CIT(A) in appeal though upheld the AO s view in not considering the order passed by his predecessor in respect of A.Y. 2010- 11 in appeal in deleting the addition simply on the ratio of non-applicability of principle of res-judicata as held by the Hon ble Madras High Court we however, cannot ignore the same since the Appellate Order was confirmed by the Co-ordinate Bench on 12.12.2018. However, we appreciate the trouble taken by the Ld.CIT(A) in the impugned Judgment is adopting the rational method by taking the latest profitable Assessment Year 2014-15 as standard GP to compute GP addition for the reason so narrated at para 5.13 which is as follows: 5.13 As can be seen above, I have upheld the rejection of books of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... essment year i.e. 2014-15 is taken as standard GP to compute the GP addition. If the standard GP at 4.65% is accepted then the GP addition for A.Y. 2012-l3 and A.Y.2013-14 is computed at ₹ 5,25,667/- and Rs.l,58,614/- respectively. Hence it is considered quite fair and reasonable to compute the GP addition for A.Y.2012-13 at ₹ 5,25,667/-. As all the expenditure has already been accounted while computing the basic GP percentage of 4.48, no further deduction for any expenses can be given. Consequently the addition of ₹ 1,79,12,777/ -is hereby deleted and addition of ₹ 5,25,667/- is hereby confirmed. The ground No. 2 is partly allowed. 4.01. Having heard Ms.Mauna Bhatt, learned Senior Standing counsel ..... X X X X Extracts X X X X X X X X Extracts X X X X
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