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2017 (12) TMI 863 - RAJASTHAN HIGH COURTRejection of books of accounts - G.P. rate determination - Held that:- The assessee is not maintaining the day-to-day stock register and specific defects were also pointed out by the Assessing Officer in the books of account. In such circumstances and facts of the case, we find no infirmity in the order of the learned Commissioner of Income- tax (Appeals) who has rightly confirmed the application of section 145(3) of the Act. As regards estimation of income, the learned Commissioner of Income-tax (Appeals) and also confirmed by ITAT rightly directed the Assessing Officer to apply the gross profit rate of 11.5 per cent. on the basis of the past history of the assessee. - Decided against revenue
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