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2021 (3) TMI 722 - AT - Income TaxProfit estimation - unaccountable sales - GP estimation - addition on account of suppression of sales price by taking G. P. rate of 40% on unaccounted cash receipts - as brought to the notice of AO that the G. P. rate for the year has mistakenly taken at 40% instead of 27.86% as declared in the audit report by the appellant - HELD THAT:- No difficulty in accepting the G. P. rate @ 20% of the unaccountable sales, respectfully relying upon the order passed by the Coordinate Bench [2014 (4) TMI 619 - ITAT AHMEDABAD] instead of 27.86 as taken by Revenue. Hence, we direct the AO to take profit at 20% of the unaccountable sales in the instant case and to pass orders accordingly. This ground of appeal is allowed.
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