Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2017 (11) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2017 (11) TMI 734 - HC - Income TaxTrading addition u/s 145(3) - non-maintenance of stock register and decline in GP rate despite Sales constant - ITAT and CIT-A deleted the addition - Held that:- Whatever defects pointed out by the Assessing Officer is not justified, the rejection of books of account U/s 145(3) of the Act. The assessee's manufacturing processes are so complexed that at every stage, the size, length and width of products changed and also the number of process in the manufacturing of handmade papers but the assessee has maintained proper purchase, sale and other expenses on the basis of bill/vouchers. Therefore, we uphold the order of the ld CIT(A) - Decided in favour of the assessee.
|