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2013 (12) TMI 202 - HC - Income TaxEstimation of profits - Held that:- The CIT(A) has directed the assessee to produce the quantitative stock and value-wise details of major items traded which constituted more than 20% of the turnover - The CIT(A) forwarded the details submitted by the assessee and rejoinder from the assessee to the Assessing Officer for filing remand report - Sales Tax assessment order was sent to the Assessing Officer for his comments too - Following ITO vs. Vijay Kumar Mesar [2009 (8) TMI 675 - CHHATTISGARH HIGH COURT] 231 CTR 165 - Confession made by the assessee during survey proceedings is not conclusive and it is open to the assessee to establish by filing cogent evidence that the same was not true and correct - The Tribunal after confirming the fact finding done by CIT(A) deleted the addition - Decided against Revenue.
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