2013 (3) TMI 693

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... HARI OM MARATHA, J.M. : This appeal of the revenue for A.Y. 2008-09 is directed against the order of ld. CIT(A) dated 02/08/2012. 2. The assessee-firm derives income from execution of Civil Contract Works. During the F.Y. 2007-08, the Assessee-Firm has declared income of Rs. 9,85,335/- before allowing interest and remuneration to partners; and also depreciation. The assessee has maintained ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....of the books and has accepted the same. However, in defence, the reasons given by ld. CIT(A) to restrict the trading addition to Rs. 60,133/-, have been reiterated by ld. A.R. 3. After considering the rival submissions, we have found it for a fact that the following chart, undisputedly, depicts the gross and net profits of the two consecutive assessment years, as under :- Assessment Year ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... the past history. However, the comparison of G.P. Rate is a more relevant factor for trading results instead of comparison of the N.P. Rate. The gross profit rate in this year is better than the past year. Accordingly, we confirm the impugned reduction of the trading addition to Rs. 60,133/- and do not find any reasons to interfere in the finding of the ld. CIT(A). 4. The Ground No. (ii) relat....