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2015 (5) TMI 998 - AT - Income TaxEstimation of the income - rejection of book result of the assesse - fall in G.P. rate - CIT(A) deleted the addition - Held that:- Fall in GP cannot be a ground for rejecting the book result shown by the assesse. It is one of the corroborative fact for the Assessing Officer to doubt the books but the Ld. Assessing Officer ought to have pointed out the defects in the accounts, only thereafter he can estimate the GP. Ld. First Appellate Authority reappreciated the material available and only then deleted the addition. After going through the order, we do not find any reason to interfere with it. - Decided in favour of assessee.
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