Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2023 (8) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2023 (8) TMI 867 - ITAT VISAKHAPATNAMNet profit ratio of unaccounted income - suppression of receipts - incomes accepted during the course of survey - Addition of entire unaccounted gross receipts without allowing deduction towards expenses in this regard - HELD THAT:- As in the assessee’s own case for the AY 2016-17 [2022 (9) TMI 865 - ITAT VISAKHAPATNAM] wherein under identical circumstances, the Tribunal held that the profit ratio of unaccounted income of the assessee shall be computed @ 18% , which is as accepted by the assessee during the survey proceedings. Thus we hereby direct the Ld. AO to compute the net profit ratio of unaccounted income of the assessee at the rate of 18%. Appeal of the assessee is allowed.
|