2025 (9) TMI 426

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.... ORDER PER RAJESH KUMAR, AM: This is an appeal preferred by the assessee against the order of the National Faceless Appeal Centre, Delhi (hereinafter referred to as the "Ld. CIT(A)"] dated 03.09.2024 for the AY 2022-23. 02. The only issue raised in the various grounds of appeal is against the confirmation of addition by ld. CIT(A) of Rs. 1,03,22,032/- as made by the ld. AO by applying 1....

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....ailable before him. Though the audited statements comprising the audited balance sheet profit and loss account and the information of purchase of liquor by the assessee were available before the ld. AO at the time of assessment. The ld. AO noted from the financial statements that during the year the total turnover of the assessee was 12,96,75,358/- and has also shown commission and brokerage incom....

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....ord, we find that the assessee is undisputedly carrying the business of purchase and sale of liquor. The purchase of liquor is control item and subject to TCS during the year the assessee purchase the liquor from state government corporation i.e. West Bengal State Beverages Corporation Ltd. to the tune of Rs. 12,70,62,216/-, which were duly shown in the audited books of accounts and was duly shown....

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....e ld. AO the net profit was also shown at 2.40% in the preceding assessment year. The comparative chart of GP and NP, which is available at page no.76 of the Paper Book and the same is extracted below for the sake of ready reference:- A.Y. Total receipts Gross profit Gross profit% Net Profit Net profit% 2019-20 8,55,51,294 34,02,054 3.977% 2418905 2.827% 2020....