Bench: Shri R. K. Panda & Ms. Astha Chandra
546. 4. The learned CIT(A), NFAC erred in law and on facts in assessing the gross profit margin (GPM) of the appellant at 18% on alleged HAWALA purchases instead of a reasonable lower plausible GPM. Appellant contends that, in business of trading of goods and assuming, such huge 18% GPM on alleged HAWALA Purchases is abnormal. 5. Appellant craves