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Income Tax Appellate Tribunal, “E”, BENCH MUMBAI
Before: SHRI R.C.SHARMA, AM & SHRI PAWAN SINGH, JM
Revenue by : Shri Pradeep Kumar Singh (DR) Assessee by : Shri S.L. Poddar (AR) Date of Hearing : 21/10/2016 Date of Pronouncement: 21 /10/2016 O R D E R
PER PAWAN SINGH, JM:
The above appeal is filed by the Assessing Officer (AO) raising various grounds of appeal
for the assessment years mentioned above. The tax effect involved in the above referred case is below the monetary limit (Rs. 10,00,000/-) prescribed by the Central Board of Director Taxes(CBDT), vide its Circular No.21/2015(F.No.142/2007-ITJ (Pt.) dated 10th December, 2015.
2. Even on merit the perusal of assessment order, it is revealed that no seized documents were utilized against the assessee in the assessment order. The additions were made on GP rates. No discrepancy was pointed out in the sales and neither purchase nor any incriminating document was found and seized and as such the additions were made on presumption basis. Thus, the order was not sustainable as held by ld. CIT(A). Thus, on merit in the appeal, we do not find any merit in the appeal of the Revenue.
3. In the result, appeal of the Revenue is dismissed.