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2018 (12) TMI 1524 - HC - Income TaxRejection of books of accounts - Held that:- Assessee's book results and to make additions on the grounds that the assessee had made sales at low rates and in some cases sales were to non-existing parties. The Tribunal in the impugned judgment examined relevant material on record and came to the conclusion that the Assessing Officer was not justified in rejecting the book results. The Tribunal also gave detailed reasons why the action of the Assessing Officer in comparing gross profit of other entities engaged in the same business was not justified or correct. We also notice that the CIT appeals had also given substantial relief to the assessee.
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