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2012 (11) TMI 758 - AT - Income TaxDetermination of Gross Profit ratio in restaurant business - AO rejected Books of account due to inflating of expenses and suppression of sales made and in absence of bills and vouchers – Held that:- AO is directed to estimate Gross Profit at the rate of 35% on total turnover instead of 40% as determined by him and as against @ 31.15 on the admitted sales by assessee - the appeal of the Revenue is allowed in part. Disallowance of expenditure towards advertising charges u/s 40(a)(ia)– Held that:- As the payment was made and not payable on the date of balance-sheet, TDS payment and provisions of sec.40(a) are not attracted, expenditure claimed cannot be disallowed - ground raised by the assessee in its Cross Objection is allowed.
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