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2008 (3) TMI 42 - HIGH COURT PUNJAB AND HARYANAThe assessee, a hotel, filed a return showing cost of raw material at around 62% food cost ratio. Assessee was not able to maintain stock register therefore, AO on estimate basis the consumption ratio@45% and made the addition on account of suppressed sale – sicne the sale were fully vouched, no specific defects were found in the books of account therefore, Com(A) partially allowed the appeal and restricted the ratio @55%. ITAT’s decision maintaining the order of Com(A) not interfered with.
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