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2017 (3) TMI 1300 - ITAT AHMEDABADG.P. addition - no rejection of books of accounts - Held that:- There is no finding by any of the authority below about any specific defects in the books of account, and yet an addition has been made to the profit disclosed by the assessee. The business situations can never be so static as to permit a uniform gross profit rate over the years. The gross profit rate being too low cannot be reason enough to reject the books of account, and make gross profit addition. Cannot, therefore, uphold the action of the authorities below in adding the value of debit notes of ₹ 4,19,175/- only on the ground that such an addition will result in reasonable gross profit. There is no reason to doubt genuineness and bonafides of these debit notes. - Decided in favour of assessee
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