Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2013 (7) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2013 (7) TMI 526 - ALLAHABAD HIGH COURTDisallowance - excess consumption of Tendu leaves - CIT (A) addition of 1/3rd of the amount - Tribunal confirmed addition holding that there was no sufficient explanation, which could fully explain great fall of GP - Held that:- there was a fall in GP rate in the relevant assessment year 2003-03, and there was no sufficient explanation, which could fully explain such fall of GP rate. Considering these facts, the adhoc addition sustained by CIT (A), which is of the AO's addition 1/3rd, was found to be reasonable - findings recorded by ITAT are findings of fact based on their assessment of the material on record, which do not raise any question of law - Decided against Revenue.
|