Vimal Gandhi, President. - This is an appeal by the assessee against the order dated 20-3-2002 for the assessment year 1998-99. There are two grounds in the appeal and the issues that arise from the grounds are against the CIT(A) confirming the addition of Rs. 42,94,482 made by the Assessing Officer basing on the GP estimation at the rate of 30 per cent in respect of purchases from Picker International (PI) without prejudice the assessee argued in the grounds that the CIT(A) has erred in not considering the rate of 35.93 per cent, which is more than estimation at the rate of 30 per cent in respect of CT accessories.

2. Briefly stated, the facts are that the assessee filed the return of income declaring income of Rs. 25,58,891 and Assessing Officer completed the assessment under section 143(3) determining the total income at Rs. 2,73,06,237 before setting off the unabsorbed business loss and depreciation. Assessing Officer made a couple of additions invoking the provisions of section 92 of the Income-tax Act, 1961 (referred to as ‘Act’ hereafter) for both additions i.e., addition of Rs. 45,12,400 on account of commission profits and another addition of Rs. 2,02,34,946 on account