2012 (3) TMI 404

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....terim stay. 2. The appeal has been preferred under Section 260A of the Income Tax Act, 1961, questioning the order dated 26.10.2009 passed by CIT(A) and order dated 19.03.2010 passed by the ITAT. For the assessment year 2006-07, the Assessing Officer applied gross profit rate of 19.43% as against the gross profit rate of 15.79% declared by the assessee. The CIT(A) upheld the application of gross ....

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....cannot be said to be in accordance with law. Books of accounts of the assessee could not have been rejected on the ground, it has been rejected. Gross profit rate of 15.79%, declared by the assessee, ought to have been accepted. 4. After considering submissions of counsel appearing on behalf of the appellant, we find that discussion made by the ITAT is appropriate. The ITAT has taken into conside....