1 10.ITXA.6785-10 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.6785 OF 2010 The Commissioner of Income Tax-5 ..Appellant. Vs. M/s. Sundaram Gems Pvt. Ltd., ..Respondent. .... Mr. N.A. Kazi, for the Appellant. Dr. K. Shivaram a/w. Rahul K. Hakani, for the Respondent. .... CORAM : J. P. DEVADHAR & A.R. JOSHI, JJ. DATED : 30 th NOVEMBER, 2011. P.C. 1. Whether the ITAT was justified in deleting the additions made by the Assessing Officer by estimating the additional gross profit at 4.9%, is the question raised in this Appeal. 2. The finding of fact recorded by the ITAT in para-12 of its judgment is that the Assessing Officer compared profits of the assessee with the comparable cases in the market where the profits of persons engaged in export of diamond was high. The Tribunal has recorded a finding of fact that in the assessment year in question, the gross profit has increased compared to the gross profit in the earlier years. The 2 10.ITXA.6785-10 Tribunal has recorded finding that the assessee has maintained the carat wise stock register which is the regular practice prevalent in the diamond trade. The Tribunal has recorded a finding of fact that in the present case, the books of account maintained by the assessee could not be rejected without pointing out defects, if any, especially when the books maintained to the same effect in the earlier years have been accepted by the Revenue. 3. In these circumstances, in our opinion, no fault can be found with the decision of the ITAT. Accordingly, we see no reason to entertain the Appeal. Hence, the Appeal is dismissed. (A. R. JOSHI, J.) (J. P. DEVADHAR,J.)