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2011 (1) TMI 118 - HC - Income TaxBooks of the assessee was rejected by the assessing officer - addition made to the trading results, deleted holding that where books of account have been rejected, it was not mandatory to make any trading addition - Tribunal while upholding the order of the assessing officer that the account-books of the assessee cannot relied upon has applied the G.P. rate as was disclosed by the assessee and was accepted by the Department for the immediate preceding year as well as of the subsequent year - Tribunal held that even after rejection of the account-books, it is not open to the Revenue Authority to fix the turn-over - Tribunal has found that no evidence was brought on record to suggest that the assessee has made extra sales, in addition to the sales turn-over disclosed – Appeal dismissed
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