Principal Commissioner Of Income Tax 3 v. M/S N A Export

C/TAXAP/461/2018 ORDER IN THE HIGH COURT OF GUJARAT AT AHMEDABAD R/TAX APPEAL NO. 461 of 2018 ========================================================== PRINCIPAL COMMISSIONER OF INCOME TAX 3VersusM/S N A EXPORT ========================================================== Appearance: MRS MAUNA M BHATT(174) for the PETITIONER(s) No. 1 for the RESPONDENT(s) No. 1 ========================================================== CORAM: HONOURABLE MR.JUSTICE AKIL KURESHIandHONOURABLE MR.JUSTICE B.N. KARIA Date : 09/05/2018 ORAL ORDER (PER : HONOURABLE MR.JUSTICE AKIL KURESHI) 1. Revenue is in appeal against the judgment of the Income Tax Appellate Tribunal dated 29.11.2017 raising following question for our consideration: “Whether the Appellate Tribunal was right in law and on facts in upholding the decision of the CIT(A) and thereby deleting the additionmadebytheA.O.of Rs.1,54,69,089/- on account of Low Gross Profit ?” 2.Perusal of the documents on record would show that in case of the respondent-assessee, for the assessment year 2010-11, the Assessing Officer doubted the book reserves. After rejecting the accounts of the assessee, he made additions which, as noticed by the Commissioner of Income Tax (Appeals) C/TAXAP/461/2018 ORDER and the Tribunal, would bring the gross profit ratio of the business of the assessee at abnormal level. The Commissioner of Income Tax (Appeals) and the Tribunal gave concurrent reasons why such approach of the Assessing Officer was not justified. Entire issue is fact based, no question of law arises. 3.Tax Appeal is dismissed. (AKIL KURESHI, J) ANKIT SHAH (B.N. KARIA, J)