Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2008 (8) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2008 (8) TMI 906 - HC - Income TaxRejection of the books of accounts - application of the net profit rate and allowing depreciation separately claimed by the assessee - HELD THAT:- We do not find any illegality in the finding recorded by the Tribunal that the profit assessed on the gross receipts is arrived at by taking into consideration all allowable expenses and no further deduction on account of depreciation can be separately allowed. Therefore, there is no merit in the present appeals. Hence, the same are dismissed.
|