CIT Vs. INANI MARBLES P LTD

JUDGEMENT

(1.) THIS appeal has been filed by the revenue against the judgment of the learned Tribunal dated 16 -5 -2005 deciding cross appeals of the assessee and the revenue whereby dismissing the appeal of the revenue and partly allowing the appeal of the assessee, and maintaining the gross profit rate to be applied at 2.51 per cent.

(2.) THE appeal was admitted on 4 -4 -2006 by framing the following substantial question of law:

(3.) ASSAILING the impugned order it is contended by the learned Counsel for the revenue that in the year 1998 -99 the Gross Profit rate at 16.04 per cent was applied, and therefore, there was no justification for the Tribunal to reduce the Gross Profit rate at 2.51 per cent.