2020 (7) TMI 628

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....the Respondent : Mr.A.S.Sriraman JUDGMENT T. S. SIVAGNANAM, J. This appeal, by the Revenue under Section 260A of the Income Tax Act, 1961 (for short, the Act), is directed against the order dated 23.8.2011 made in ITA.No.2057/Mds/2010 on the file of the Income Tax Appellate Tribunal, Madras 'C' Bench (for brevity, the Tribunal) for the assessment year 2002-03. 2. We have heard Mr.M.Swaminathan....

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....s persons. The Tribunal confirmed the order dated 21.9.2010 passed by the Commissioner of Income Tax (Appeal), Tiruchirapalli [for brevity, the CIT(A)], who followed the decision of this Court in the case of CIT Vs. Mohammed Dhurabudeen [reported in 4 DTR 218] wherein it was held that when the income of the assessee was computed by applying GP rate and no deduction was allowed in regard to purchas....