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2014 (2) TMI 253 - AT - Income TaxAddition made - Unaccounted production and profits on unrecorded sales – Held that:- The entire addition was made by the AO based on the findings of the Central Excise Department - additions was made by the AO - the CIT(A) modified the same by sustaining addition by adapting the G.P on sale @ 40% amounting being unaccounted investment for effecting the sale - The addition made and sustained by the AO and CIT(A) is not appropriate – 12.5% margin on such uncounted sale will suffice to be considered as profit on such uncounted sale where by additions have to be made – Decided partly in favour of Assessee.
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