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2012 (10) TMI 83 - ITAT AHMEDABADRejection of books of accounts - fall in G.P. rate - improper maintenance of wage register - assessee contended that revenue authorities has not considered the fact that due to increase in material cost and payment of service tax there was fall in GP and, and mere defect in maintenance of wage register alone cannot be the ground for invoking provisions of section 145 without pointing out any specific defects in the audited books of account of the assessee - Held that:- From the facts of this case it is found that AO had examined the books of accounts and statement of affaires maintained by the assessee thread bear and rightly rejected the same for the cogent reasons recorded in the assessment order. CIT(A) had also endorsed to the view of the AO. On examination of these facts, view of the revenue with regard to rejection of books of accounts is upheld. However, taking a lenient view considering the nature of business GP at 9% is taken instead of 6.88% declared by the assessee - Decided partly in favor of assessee
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