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2017 (8) TMI 665 - DELHI HIGH COURTDisallowing claim of bad debts - Held that:- Assessee, appearing on advance notice, has produced before the Court copies of the “Schedules annexed to and forming part of the balance sheet as on 31st March, 1998” which show that the bad debts have been written off in the books of accounts. Consequently, the Court declines to frame any question on this issue. The said documents are taken on record. Suppression of gross profits - Held that:- During the physical reconciliation, the Assessee found that the physical availability of the stock was lower than the amount noted in the accounts. The CIT (A) noted that the provision of stock was part of cost of sale which was already added back by the Assessee in the computation of income. If the differential amount was added back, the GP rate worked out to 18.11% which was more than the GP rate estimated by the AO, i.e. 16.66%. Since a sum of ₹ 1,25,05,318/- was already offered to tax by the by the Assessee, the CIT (A) was of the view that no further addition was called for. No substantial question of law arises
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