TaxTMI 
TaxTMI 
2020 (11) TMI 600
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....For the Appellant: Shri Soumitra Choudhury, Advocate For the Respondent: Shri Jayanta Khanra, JCIT ORDER Per Shri A.T.Varkey, JM Both these appeals preferred by the different assessee's (Rice Mill's) against the separate orders of Ld. CIT(A), Burdwan dated 11.01.2019 and 01.02.2019 for AYs 2014-15 respectively. 2. The sole issue in both these appeals which are filed by the assessee firm a....
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....n of Rs. 2,43,61,260/-. 4. In the case of ITA No. 604/Kol/2019 brief facts are that the AO noted that the assessee failed to give details of purchases of paddy for cash, so having rejected the books of account of the assessee, the AO observed that the GP of 1.8% shown by assessee is too low and thereafter compared the GP results given by NABARD and other Institutions wherein the average GP comes ....
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....d purchased during the year. It is only in respect of the amount paid by assessee towards purchase of paddy in cash is suspect. According to the AO, due to the assessee's failure to give specific details of the farmers from whom the assessee's have purchased the paddy, the amount paid to them are unverifiable. According to us, when the quantity of the paddy purchased and sold has not been disputed....
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....oth the cases have adopted GP @ 3%. Before us, the Ld. AR Shri Soumitra Chowdhury, Advocate contended that certain comparable rice mills of the nearby locality as that of both the assessee's has not been considered and if it was considered by the Ld. CIT(A) then the GP would have come down. Be that as it may be, we note that in the first case the assessee has shown GP of 2.31% and in the second ca....