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2022 (11) TMI 412 - AT - Income TaxEstimation of income - GP estimation - whether CIT(A) has erred in granting relief to the assessee in reducing the gross profit rate at 0.5% as against at 3% estimated by the AO? - HELD THAT:- As in assessee’s own case on almost similar set of facts wherein similar estimation was made by AO in AY 2013-14 [2021 (12) TMI 1287 - ITAT SURAT] and on appeal before CIT(A) similar additions was restricted to 1% and on further appeal by assessee. Considering the decision of Tribunal in assessee’s own case on similar facts in preceding year and respectfully following the same, the estimation made by ld. CIT(A) is increased from 0.5% to 1% of total turnover. Thus, the grounds of appeal raised by the Revenue are partly allowed.
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