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2003 (5) TMI 13 - HC - Income TaxBest judgment assessment under section 145(2) – rejection of books of accounts - assessing authority has also found that the gross profit rate during the current year showing the trading result was far below the gross profit rate shown in the previous year – Tribunal found that it was a case where the books of account have rightly been rejected by the Assessing Officer - instead of applying a flat gross profit rate, a lump sum addition of Rs. 2 lakhs has been sustained by taking into consideration the relevant trading result shown by the assessee - Finding reached by the Tribunal is a finding of fact on appreciation of relevant material and does not give rise to any question of law – assessee’s appeal dismissed
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