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2013 (8) TMI 290 - HC - Income TaxComputation of G.P. rate - Rejection of books of accounts - Tribunal reduced G.P. rate by 2% without giving cogent reasons - Held that:- there was order of affirmance no detailed reasons were otherwise required to be assigned and it was observed by the learned Tribunal that as regards assessment years 1992-93 to 1994-95 the departmental appeals were dismissed and application of 8% profit rate was held to be reasonable and the present appeal is in respect of assessment year-1997-98 and the question decided by the learned Tribunal is one and the same - Decided against Revenue.
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