2019 (3) TMI 1065

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....ted against the order of the Commissioner of Income Tax(Appeals)-2, Thane, dated 28-02-2018 for the AY. 2010-11. 2. Although several grounds were raised by the assessee but at the time of hearing of this appeal, it was submitted by the learned AR of the assessee before the Bench that ground raised on merit may be decided and other grounds may be rejected as not pressed. Accordingly, all grounds e....

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....ted by the Tribunal that GP disclosed by the assessee in the AY. 2009-10 was 4.73% and in AY. 2010-11, it was 3.72%, but there is increase of 33% in the sales amount during the AY. 2011-12 before the Tribunal in that case. He further pointed out that it was noted by the Tribunal that sales increased from Rs. 16.62 Crores to Rs. 21.83 Crores during the AY. 2011-12. Thereafter, he pointed out that i....

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....red to 3.5% adopted in A. Y. 2011 - 12. 4. In reply, the Ld. AR of the assessee submitted that Bench may decide the percentage of GP to be adopted in the present year. 5. Ld. DR for the Revenue supported the order of the Ld. CIT(A). 6. I have considered the rival submissions. I find that as per the chart reproduced by Ld. CIT(A) at Pg. No. 16 of the impugned order, assessee was having a turnove....