2003 (11) TMI 550

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Full Text of the Document

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....as objected to the order of CIT(A) whereby he has confirmed apart of addition made in the trading account. 2. I have heard the ld. Counsel as well as the ld. DR. 3. Ld. Counsel has submitted that assessee's GP rate for assessment years 1990-91 and 1991-92 was 10.8% and 10.9% respectively but in assessment year 1991-92 the Assessing Officer had applied GP rate of 12.5% which was knocked down ....