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2016 (5) TMI 1506 - ITAT AMRITSARNon disclosure of discount on purchases from 25% to 40% - free distribution of books - AO held that assessee was not declaring true profits and therefore on the basis of discount allowed by suppliers he calculated the margin of assessee and made additions accordingly - HELD THAT:- In the present case, in the case of Revenue’s appeals the Revenue is aggrieved with the deletion made by learned CIT(A) on account of deduction for free distribution of books. However, we find that learned CIT(A) had allowed relief on account of free distribution of books after getting remand report from Assessing Officer and in earlier years we had already dismissed the appeals filed by Revenue on similar grounds and therefore, the appeals filed by Revenue in the present years are also dismissed. Calculation of taxable income - In the absence of any quantitative details, it is presumed that out of goods valuing at ₹ 99609039/-, the assessee has sold 75.60% of goods on which he got discount and 24.40% of goods on which he did not get any discount. Apeals filed by assessee are partly allowed.
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