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2017 (5) TMI 163 - AT - Income TaxGP estimation - non maintaining of proper books of accounts - Held that:- The lower authorities have rightly invoked the provisions of Section 145(3) of the Act for not maintaining the qualitywise quantitative details of dhania and hence the gross profit rate was not verifiable from the records. As regards confirming the addition of ₹ 3,72,233/- by the ld. CIT(A) estimating the gross profit rate at 3% by taking into consideration the assessment order and submissions of the assessee before him, the Bench feels that in order to maintain equity and justice the lumpsum addition of ₹ 2.00 lacs (Rs. Two Lacs) only is sustained. Thus the appeal of the assessee is partly allowed.
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