1989 (12) TMI 144

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....n he has passed an order under s. 154 of the IT Act, 1961 reducing the gross profit addition to Rs. 30,000 as against Rs. 66,018 made by ITO. Revenue has taken two grounds to urge that the CIT(A) erred in passing an order under s. 154 by entertaining application filed by the assessee for rectification the appellate order and the CIT(A) erred in restricting the addition to Rs. 30,000 as against Rs.....

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....t has been reduced to 14.58 per cent. Hence the appeal by the Revenue. 3. In this connection, it is to be mentioned that in the original consolidated appellate order passed by the CIT(A) on 25th Jan., 1984 in respect of asst. yrs. 1979-80, 1980-81 and 1981-82, the CIT(A) has not dealt with the addition in respect of gross profit in the trading account, though he has dealt with this aspect in th....

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....have duly considered the rival submissions. A perusal of the earlier consolidated order of the CIT(A) dt. 25th Jan., 1984 clearly shows that he has dealt with only one ground, but stated in concluding paragraph that he has allowed the appeal for the asst. yr. 1981-82 fully. The grounds of appeal filed before the CIT(A) contain three grounds of appeal viz. (1) gross profit rate should be reduced re....

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....t and therefore restricted the addition to Rs. 30,000. The addition sustained by the CIT(A) gives a rate of 14.58 per cent as against 14.38 per cent in the earlier year. Though the CIT(A) reduced the addition, nonetheless, the rate of gross profit sustained is more than that of last year. Therefore, there could be no grievance to the Revenue regarding the addition sustained by the CIT(A). The high....