2010 (11) TMI 67

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....e Income Tax Department. The following two substantial questions of law have been framed in the memo of appeal.   "1. Whether on the facts and in the circumstances of the case the ITAT was legally justified in deleting the addition of Rs.13,88,218/- without appreciating the facts that the A.O had noted serious defects of incompleteness and incorrectness of books of accounts for invoking th....

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.... shortfall in gross profit rate is concerned, it is supported by the facts on record and it was not refuted either by the AO or by the CIT(A). The same could not be a reason for rejection of the books of account. The said finding of the Tribunal is perfectly justified as no illegality or perversity therein could be pointed out by the learned standing counsel for the Department.   We are th....