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2012 (11) TMI 854 - HC - Income TaxBest Judgement Assessment - held that:- Rejection of the books of account and estimation of turn-over and profits by the best judgment assessment has been upheld by the Tribunal taking into consideration sales of Rs. 9.26 lakhs which was recorded outside the books of account - Tribunal has upheld the determination of turn-over at Rs. 2.30 crores as against Rs. 2.50 crores fixed by the Assessing Officer and reduced by CIT(Appeals). So far as the deletion of addition of Rs. 4,85,691/- in respect of M/s. Vikas Chappal House, Rs. 33,045/- in respect of Bani Footwear and Rs. 47,913/- in respect of Agarwal Shoe Store are concerned Tribunal in the impugned order has held that where best judgment assessment is made, there is no question of addition on the ground of sundry creditors. Moreover, while determining the gross profit, these additions have already been taken into consideration - order passed by the Tribunal does not suffer from any legal infirmity - appeal fails and is dismissed.
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