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2017 (3) TMI 1546 - AT - Income TaxAddition on account of fall in GP - proof of defects in books of accounts - Held that:- There is only small decrease in the gross profit rate as compared to the earlier year. The assessee has maintained regular books of account supported by purchase and sale bills and vouchers of expenses. No specific defects have been pointed out in maintenance of the books of account and vouchers. All the quantitative details were supplied to the Assessing Officer. Books are audited. Net gross profit has increased as against earlier year. Assessee had already surrendered additional income during the course of search which was towards the discrepancy found during the course of search and for fall in GP which were more than sufficient to meet the above addition. Since no specific defects have been pointed out in the maintenance of the books of account, therefore, Assessing Officer was not justified in enhancing the profit rate of the assessee for the purpose of making the addition. - Decided against revenue
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