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2023 (7) TMI 12 - AT - Income TaxEstimating the suppression of sales - Addition @ 200% by extrapolation based on the evidence available for 3 months - evidence was found during the course of survey indicating the suppression of sales - HELD THAT:- In the absence of evidence indicating about the suppression of sales @ 200% of the sales return by the assessee and its ground concerns as well as any statement recorded from the responsible persons about the suppression of the sales for the entire year as found for the first three months of the financial year, we find that the ld. CIT(A) has rightly apportioned the amount of suppression among the four assessees and directed the Assessing Officer to adopt the total income determined which has been considered as the undisclosed income of the assessee and its group concerns. GP around 20 to 32% in the same line of business in respect of any other assessees has nothing to do in the present case. We find no reason to interfere with the order passed by the ld. CIT(A) and thus, the grounds raised by the Revenue are dismissed.
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