1976 (5) TMI 60

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..... On total sales of Rs. 3,76,819 the declared profit was Rs. 38,825 giving a rate of 10 per cent. The ITO estimated the sales at Rs. 4 lacs and applied a rate of 15 per cent which resulted in an addition of Rs. 23,076. The AAC reduced the estimate at Rs. 3,77,000 and applied a rate of 12 per cent resulting in an addition of Rs. 8,316 only. The Department is aggrieved by the relief allowed and the ....

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...., the assessee, carrying on similar business, should have shown a better result. As such the AAC was not justified in giving a relief which he did. In reply to the assessee's appeal, the learned Departmental Representative contended that the assessee is not entitled to any further relief. In reply to the Departmental appeal, the learned counsel for the assessee contended that in the cases cited by....