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2013 (9) TMI 745 - HC - Income TaxRejection of books of accounts - G.P. rate increased on the ground of past G.P. rate – Held that:- Books of accounts were not rejected - The G. P. Rate was declining every year due to escalation in the fuel charges i.e. Petrol, Diesel etc. and also Mandi Fee - G.P. Rate is a question of fact and no substantial question of law arose as per the ratio laid down in the cases of Har Gopal Singh vs. CIT; [2004 (8) TMI 35 - PUNJAB AND HARYANA High Court] - The lower G.P. Rate never attracts the addition and it cannot be a ground for rejection of the books as per the ratio laid down in the cases of International Forest Company vs. CIT [1974 (12) TMI 33 - JAMMU AND KASHMIR High Court] – Decided against the Revenue.
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