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2014 (6) TMI 537 - AT - Income TaxAddition towards suppression of income – Held that:- The AO has proceeded to determine the suppressed gross profit and accordingly proceeded to estimate the addition of Rs. 65.00 lakhs on the basis of materials, which were agreed to be correct by the partners of the assessee-firm - CIT(A) has proceeded to determine the income independently on some other basis, i.e., the CIT(A) did not examine the method adopted by the AO for determining the suppressed income, but directed the AO to estimate the income by adopting the net profit rate of 15% - CIT(A) has ignored the impounded materials - the assessee has failed to furnish any material to controvert the findings of the AO to support the decision taken by the CIT(A) – thus, the order of the CIT(A) is set aside and the matter is remitted back to the AO for adjudication – Decided in favour of Revenue.
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