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2015 (5) TMI 1073 - ITAT DELHIAddition of unrecorded sales detected during assessment proceedings - Held that:- Entire turnover cannot be added to the income of assessee and profits embedded in the turnover can only be taxed. The assessee did not produce vouchers / bills to support the increase in expenditure in his revised P & L account. Therefore, instead of 8% of turnover to be included as profits on undisclosed turnover, we hold that an amount equivalent to 12% of turnover be included in the income of assessee. In view of the above, the A.O. is directed to delete the addition on account of unrecorded turnover and instead, make an addition equivalent to 12% of undisclosed turnover.
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