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2022 (8) TMI 1178 - AT - Income TaxRejection of books of accounts - estimating the profit on turnover declared by the assessee - HELD THAT:- We are of the considered view that for mis-match of figure of sales and inventory was duly replied by the assessee giving reconciliation of the sales figure and inventory value. AO without pointing out any error in such reconciliation nor pointing out any other mistake in the audited book result rejected the same. Find no merit in this action of the ld. CIT(A) confirming the action of the ld. AO rejecting the book results without assigning any plausible reason. We, therefore, reverse the finding of ld. CIT(A) and delete the addition of estimated profit made in the hands of the assessee. All the grounds raised by the assessee are allowed.
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