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2016 (5) TMI 54 - AT - Income TaxApplication of average of the net profit of assessed income for the purpose of determining the profit of the assessee - Held that:- Since in the subsequent years, the Revenue Department accepted net profit rate in the case of the assessee at 2.53 per cent. and 2.99 per cent., therefore, the learned Commissioner of Income-tax (Appeals) was justified in applying the average of the net profit of assessed income of subsequent two years for the purpose of determining the profit of the assessee. The Assessing Officer was, therefore, not justified in adopting the gross profit rate of 51.08 per cent. for making addition against the assessee.
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