1999 (12) TMI 117

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.... CIT(A) for asst. yr. 1991-92. The assessee has raised three grounds but all these three grounds relate to confirmation of an addition of Rs 5,850 made in the declared gross profit. The assessee has challenged the enhancement in the turnover of Rs. 11,70,000 as against declared turnover of Rs. 11,64,425 and has also challenged the application of GP rate of 13.5 per cent as against declared GP rate....

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....submissions made by the learned representatives of both the parties and have perused the orders of the Departmental authorities. The assessee declared gross profit of Rs. 1,96,636 on total turnover of Rs. 11,19,136 in the immediately preceding year viz asst. yr. 1990-91 as per chart submitted by the assessee, which is placed at p 1 of the paper book. Percentage of GP rate declared by the assessee ....

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....f the AO. 3.1. A perusal of the assessment order, inter aha, reveals that the assessee produced books of accounts consisted of cash book, ledger, purchase and sale vouchers which were examined by the ITO by applying test check thereof. The ITO has also given a definite finding in the assessment order that purchases and sales are vouched. The only defect pointed out in the assessment order is ab....

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.... in the immediately preceding year. The comparative GP chart placed at p. 1 of paper book inter alia, shows that the GP rate in asst. yr. 1987-88 was 10.9 per cent and in asst. yr. 1988-89 it was 11.4 per cent., GP rate is bound to vary from year to year which depends on various factors. The minor variation in the GP rate declared by the assessee in the year under consideration as compared to the ....