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The Asst. Commissioner of Income Tax, Hyderabad Versus Sri KCKA. Gupta

Revision u/s 263 - order of the AO does not explain as to how the figure of ₹ 40 lakhs has been arrived at as undisclosed turn over and on what basis, income was estimated at 10 thereof - the order does not even explain the basis for allowing ₹ 36 lakhs as expenditure out of the unaccounted sales of ₹ 40 lakhs thereby taxing the balance of ₹ 4 lakhs only - Held that - As held by the Supreme Court in Malabar Industrial Co. Ltd. (2000 (2) TMI 10 - SUPREME Court) an order wo....... + More



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