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2019 (7) TMI 1154 - HC - Income TaxRejection of its books of account - imposition of Gross Profit Rate at 1.03% (with the corresponding Gross Profit Margin of 7.98%) based upon the previous assessment years returned and accepted rate - HELD THAT:- There was a steep down turn in the declared gross profit margin; the net profit increased only by rupees one lac or as against, the turn over increased by more than 100%. This clearly seems to have alerted the AO to examine the record and based upon his assessment of the ledger and other documents available on record rejected the books of accounts. All that the ITAT did in this case was to correct the error evident on the face of the record, in the Revenue’s appeal, evident in CIT (A) order. The Court is also satisfied that the main ground of the assessee of denial of opportunity to appear before the ITAT, is unpersuasive and cannot be accepted. A notice of hearing clearly was served on 24.07.2013; the hearing was to take place on 02.09.2013. There is no document relied upon by the assessee to show that he was incapacitated; he was prevented from instructing his counsel to appear before the ITAT on the date of hearing fixed for that purpose on which he was aware. For these reasons, the ground of denial of opportunity is also unsubstantiated. The Court is of the opinion that the ITAT’s findings are pure findings of fact and do not call for any interference. No substantial question of law arises in this appeal.
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