2005 (8) TMI 108

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....der section 260A of the Income-tax Act, 1961 (for short "the Act"), is directed against the order dated September 30, 2003, passed by the Income-tax Appellate Tribunal, Chandigarh Bench (for short, "the Tribunal"), in I.T.A. No. 221/Chandi/99, pertaining to the assessment year 1994-95. According to the assessee, the order involves the following substantial questions of law: "(i) Whether the ....

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....d a gross profit rate of 3.76 per cent. However, during the course of the assessment proceedings, the said rate was considered to be low, as compared to other liquor vends. Accordingly, the Assessing Officer applied a gross profit rate of 5 per cent., which resulted in an addition of Rs. 4,63,102 to the income declared by the assessee. Aggrieved, the assessee preferred an appeal to the Commissi....

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....sment year is independent, the Tribunal ought to have considered the matter, uninfluenced by its order for the preceding assessment year. Relying on the decision of the Supreme Court in Berger Paints India Ltd. v. CIT [2004] 266 ITR 99, learned counsel has also contended that the gross profit rate declared by the assessee was comparable with the rate declared in cases of other assessees who were e....

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....ibunal. True that each assessment year is independent of each other, but when the case of the assessee itself was that there was no difference in the fact situation of the two assessment years, namely, 1993-94 and 1994-95 and on the basis whereof, it was successful in getting relief from the Commissioner (Appeals), it cannot now be permitted to resile from its earlier stand. In that view of the....