2017 (4) TMI 1401

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....andlo For Revenue : Smt. Suman Malik, DR O R D E R Per Smt. P. Madhavi Devi, J.M. This is assessee's appeal for the A.Y 2013-14. In this appeal, the assessee is aggrieved by the order of the CIT(A) in estimating the profit at 5% of the stock put to sale. 2. Brief facts of the case are that the assessee, an individual and liquor dealer, filed his return of income admitting a total income o....

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....5. Having regard to the rival contentions and the material on record, we find that in similar cases, this Tribunal has restricted the profit at 3% of the goods put to sale. The relevant portion of the order in ITA No.454/Hyd/2016 dated 30.12.2016 in respect of Shri K.V.K.Kishore Babu, Shankarpalli is reproduced hereunder: "6. As far as the issue in Ground No.2 is concerned, the AO has estimated ....