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2015 (11) TMI 649 - HC - Income TaxAddition made by reducing the sale - estimating the net profit @ 3% of the total sale - CIT(A) deleted the addition confirmed by ITAT - Held that:- Case made out by Mr.Suresh Kumar on behalf of the Revenue is being urged before us for the first time. The Revenue was not able to point out from the record the submission that the expenditure incurred in respect of suppressed sale were already included as a part of the cost in preparing food items which have been declared. The contention now raised that the entire turnover of ₹ 1.5 crores has to be considered as income as it is, without attributing any expenses to the suppressed sale was not the contention urged by the Revenue before the Tribunal. We find that the entire issue which arises in the present appeal is a matter of factual finding. The view taken by the CIT (Appeals) and the Tribunal is a possible view. The Revenue has not been able to show that the impugned order of the Tribunal, is in any way perverse. - Decided against revenue.
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