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2003 (7) TMI 45 - PUNJAB AND HARYANA HIGH COURTAssessee had deliberately kept the account books incomplete - no illegality can be said to have been committed by the Assessing Officer when he invoked section 145(2) of the Act and assessed the income of the assessee on estimate basis - Tribunal held that if the incentives are taken into account, the gross profit rate would go to .3 per cent. - Tribunal is justified in fixing the gross profit rate on estimate basis at .27 per cent. of the total turnover - Tribunal did not commit any illegality by directing the assessment of the assessee's income on estimate basis by taking gross profit rates at .27 per cent.
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