Commissioner of Income Tax (Appeals) Removes Addition as Declared Profit Rate Exceeds Acceptable 10% Rate.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Considering the nature of asessee’s business, the G.P rate of 10% is quite acceptable. Since the declared profit of 11.67% was more than the rate of 10%, the CIT(A) has rightly chosen to delete the entire addition. - AT....