Forgot password
New User/ Regiser
⇒ Register to get Live Demo
2008 (8) TMI 126 - HC - Income Tax
AO invoked S.145 and made assessment by applying gross profit rate of 15% on the sales disclosed by the assessee, and accordingly additions were made to the different result – on appeal by assessee tribunal reduced the G.P. rate at 2.51%. – revenue challenging the acceptance of GP Rate by the Tribunal on ground that tribunal ignored the relevant material concerning assessee's own result of the previous year, is not justified – tribunal’s decision cannot be vitiated – revenue’s appeal dismissed