hosiery goods and declared gross profit of Rs. 4.16 crores on the export of Rs. 14.95 crores including profit on premium on DEPB and Duty Draw back amounting to Rs. 1.49 crores by giving gross profit rate at 27.83%. The assessee debited Rs.2.3 crores in its trading account as labour charges out of which the learned Assessing Officer disallowed Rs.1,80,40,340/- and added to the income of the assessee by opining the same to be in-genuine. On appeal, the learned first appellate authority deleted the addition, which is under challenge before the Tribunal. We have found that the impugned disallowance was made by the learned Assessing Officer on the ground that another assessee i.e. Glide impacts claimed labour charges of Rs. 30.38 lakhs only against the total export turn over of around Rs. 34 crores. The impugned addition was deleted by the learned first appellate authority on the ground that the labour charges are fully vouched, paid and the concerned persons/ partiers are identifiable, therefore, it was held that the Assessing Officer was required to make further inquiries and to bring on record as to how the payments were in-genuine or to the nonexistent parties. On a query from the Bench, as to how the case of M/s. Glide Impact is not applicable, it was explained by the learned counsel for the assessee that firstly, M/s. Glide Impacts is manufacturing different items and secondly, it is fully automatic one, whereas in the case of the assessee, it was claimed that T-shirts are manufactured wherein more and more labour is required and the
