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2016 (6) TMI 46 - AT - Income TaxRejection of Books of accounts and estimation of G P - Held that:- The assessee has failed to place on record material evidence to controvert the findings of the learned CIT(A) on the issue of rejection of books and estimation of G.P. In this view of the matter, we are of the considered opinion that there is no cause for us to interfere with or deviate from the decision of the learned CIT(A) and therefore uphold his findings on rejection of the assessee’s books of account and the estimation of G.P. @0.5% consequently leading to the addition of ₹ 29,67,013/- - Decided against assessee. Disallowance of Expenditure on salary - Held that:- The assessee has failed to place on record any material evidence to controvert the findings of the learned CIT(A) on the issue of disallowance of expenditure of ₹ 3,00,000/- claimed as paid as salary to two employees by the assessee. In this view of the matter, we are of the considered opinion that there is no cause for us to interfere with or deviate from the decision of the learned CIT(A) on this issue and therefore conform and uphold the same. - Decided against assessee.
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