DEEPAK SIBAL, J.

C.M. No. 1817-C-II of 2016 :

Through this application, condonation of delay of 183 days in re-filing the present appeal is sought for.

Allowed as prayed for.

CM stands disposed of.

Main Appeal :

An order dated 15.12.2015, passed by the Income Tax Appellate Tribunal, Division Bench, Chandigarh (hereinafter referred to as – the Tribunal) in MA No. 54/CHD/2015 in ITA No. 188/CHD/2014 was handed over to us by learned counsel appearing on behalf of the appellant in Court today. The same is ordered to be taken on record as Mark-A.

The present is an appeal by the Revenue under Section 260-A of the Income Tax Act, 1961 (hereinafter referred to as – the Act) impugning therein the order passed by the Tribunal dated 15.07.2014 (Annexure A-3). At the time of hearing of the matter, the afore-referred order dated 15.12.2015 (Mark-A) was produced and also assailed.

The present appeal pertains to the assessment year 2010-11 and seeks to raise the following substantial questions of law :-

“1. Whether in the facts and circumstances of the case, the ITAT was right in law in directing the AO to apply the gross profit rate of 7% instead of 10% adopted by the AO, without appreciating t