Allowing the appeal of the assessee the Court held that the Tribunal had not considered ground raised by assessee pertaining to jurisdiction of Assessing Officer for initiating reassessment proceedings under section 147. As a consequence of impugned additions made under section 68, gross profit ratio of assessee’s business was raised to 58.29 per cent, which could not arise in type of business of assessee  and also  certain material placed on record by assessee were also not considered. Accordingly  order of Appellate Tribunal was set aside for reconsideration . ( AY.1998 -99)