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2020 (10) TMI 832 - AT - Income TaxEstimation of income - Unexplained expenditure u/s 69C - addition made on the basis of information received from the Sales Tax Department, Maharashtra that the assessee obtained accommodation entries from M/s Vardhman Traders, a Hawala dealer - HELD THAT:- In the present case, the assessee has shown gross profit of 12.06% in the assessment year under consideration and 16.81% in the preceding assessment year. The facts and the issues involved in the present case are identical to the facts and the issues involved in the case of M/s Abhijeet Plastic India Pvt. Ltd. [2020 (8) TMI 62 - ITAT MUMBAI] and the coordinate Bench has directed the AO to make addition to the extent of shortfall to make the gross profit to 15%. We set aside the impugned order passed by the CIT (A) and direct the AO to determine the GP of the assessee @ 16.81%, which is the GP of the assessee in previous assessment year holding that the expected GP cannot be less than the GP achieved in the previous assessment year.
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