1982 (3) TMI 128

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..... nvolved in this appeal is whether the additions made to the trading results declared by the assessee to the extent of Rs. 4,026 in the spare-parts account and of Rs. 5,000 in the tyres account are justified. 3. We have heard the parties and we find no justification for sustaining the additions made. The assessee is a dealer of motor spare parts and tyres. The ITO had made the addition of Rs. 4, .....

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..... , the G.P declared by the assessee was 14.4 per cent. For the year under appeal the turnover is better than the earlier years and the G.P. is 14.2 per cent. A mere fall in the rate of G.P. is in our opinion, not a justification for the additions nor on the facts of the case any addition is justified. In this regard, the assessee has pointed out that lower rate of G.P. was accepted in the case of N .....

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