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2019 (11) TMI 1063 - HC - Income TaxDetermination of rate of Gross Profit - notice u/s 153A - Assessee showed its gross profit at 4.75% during the Financial Year 2010-11 - AO consequently, recalculated the gross profit @ 6% - HELD THAT:- The Tribunal has rejected the appeal preferred by the Revenue on the premise that the Assessing Officer has not doubted and, therefore, not rejected the books of accounts presented by the assessee. Consequently, it was not open to the AO to proceed to make an assessment of the net profit of the assessee on the basis of the comparison made with the industry & trade. In our view, the reasoning adopted by the Tribunal appears to be sound, and therefore, no question of law arises for our consideration in the present appeal.
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