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2013 (10) TMI 258 - HC - Income TaxAdditions on account of low gross profit rate - Additions on account of excessive loss - CIT(A) and ITAT deleted the additions - Held that:- . The AO merely gone by the fact that there was a fall in the gross profit rate as compared to the preceding assessment year which itself is no ground to reject the books of account of the assessee. No specific defect in the maintenance of the books of account by the assessee has been pointed out AO. - decision of CIT(A) and ITAT upheld - decided against the revenue. Regarding excessive expenditure, it was held that, the AO has not pointed out which of the expenditure were not admissible in law. - no addition - Decided against the revenue.
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