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2012 (11) TMI 350 - ITAT, AHMEDABADGP addition - Survey u/s.133A - CIT(A) deleted the addition - Held that:- The GP rate worked out by the A.O. in year under consideration @16.04% which was 23.01% in immediate preceding year. As assessee was maintaining other books i.e. purchase register, sales register, details of manufacturing cash book and ledger etc. & the books of account are audited which has been accepted by the other departments. When A.O. had not brought on record any particular defects in the books of account no reason to intervene in the order of the CIT(A) - in favour of assessee. Addition to stock - CIT(A) deleted the addition - Held that:- The discrepancy in stock of Rs.7,65,000/- had been included in the closing stock and credited in the P&L account by assessee - no reason to intervene in the order of the CIT(A) - in favour of assessee. Unaccounted scrap sale - CIT(A) deleted the addition - Held that:- Held that:- The assessee has included scrap sale in sale of boxes and made part of P&L account of the year under consideration - no reason to intervene in the order of the CIT(A) - in favour of assessee. Disallowance u/s.43B - Held that:- PPF amount had been paid within due date of filing return. Therefore, the A.O. is directed to verify the payment - in favour of assessee for statistical purposes.
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