1980 (3) TMI 124

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....period as shown to have been observed by the assessee ended with the financial year 1977-78. 2. The assessee has taken the sole ground reading "For that the learned AAC erred in facts and in law and was not justified in upholding the addition of Rs. 20,000 in the trading account. For that the same may be deleted". 3. Facts material for the purposes of this appeal, briefly stated, are that th....

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....held the addition and gave elaborate reasons for the same. 5. Before us the learned counsel for the assessee has contended that in the assessment order the ITO has relied upon certain facts as to showing of gross profit rate at 15 per cent by other assessees dealing in hardware goods, but the same fact has never been put to the assessee during the course of assessment proceeding, as such the as....

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....tune of Rs. 10,000 has been upheld by this Bench of the Tribunal as to be quite fair and reasonable. 7. We have our due consideration to the facts of the case as also to the submissions made before us by the learned Authorised Representative of the parties. We have also perused our order dt. 31st July, 1979 made in the case of the assessee for the immediately preceding year 1977-78 in ITA No. 2....

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.... and proposed to be utilised for the purpose of the assessment". 10. The ITO in the assessment order, having imported knowledge, that, other assessees dealing in hardware goods are showing profit not less than 15 per cent, in our view, amounts to material gathered and utilised for the purpose of assessment in the case of the assessee and the said material having not been put to the assessee, i.....