Held, that it could be noted from the financial statements that the cost of raw materials during the year had increased by around three per cent., finance cost by around five per cent. and other expenses by around four per cent. compared to the previous year. As a result, the assessee suffered loss during the year, which was fully verifiable. Hence, the additions made by the Assessing Officer and confirmed by the Commissioner (Appeals) by applying the net profit rate of eight per cent. subject to depreciation, was unjustified. (AY. 2014-15)