2016 (12) TMI 1631

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... by : Shri M.K. Patel, AR O R D E R PER R.P. TOLANI, JUDICIAL MEMBER:- These are the cross-appeals filed by the Revenue and assessee respectively against the order of the Commissioner of Income-Tax (Appeals), Valsad dated 30.03.2012 for AY 2009-10. 2. The sole ground raised by the Revenue reads as under:- On the facts and circumstances of the case and in law the learned CIT(A) has erred in ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....010 in ITA No.1351/Ahd/2012 and CO No.155/Ahd/2012, has upheld the order of CIT(A) by following observations:- "4. We have heard the Ld.DR, perused the material available on record and gone through the orders of the authorities below. We find that the ld.CIT(A) while deciding the issue in favour of assessee has given a finding that though the AO has doubted the purchases but has not brought on r....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ssee. He thereafter after considering the Gross Profit and Net Profit ratio shown by the assessee, estimated the Net Profit at 2% as against 1.10% disclosed by the assessee.. Before us, Revenue has not brought any material on record to controvert the findings of ld.CIT(A). Looking to the totality of the facts of the present case, we do not see any reason to interfere with the order of the ld.CIT(A....