Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2013 (7) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2013 (7) TMI 41 - AT - Income TaxAddition in gross profit rate – CIT deleted addition – Held that:- Assessing Officer made addition purely on adhoc basis without making any verification or without giving any cogent basis – Addition cannot be made on pure conjectures – In case Assessing Officer had doubts over book results counter verifications and other enquiries should be made – Assessing Officer not rejected books of account of assesse, therefore, estimation of gross profit by applying GP rate of 50% not justified – Appeal dismissed.
|