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Principal Commissioner of Income Tax-21 Delhi Versus Sh. Birender Singh

2015 (8) TMI 1097 - DELHI HIGH COURT

Rejection of books of accounts - adopting net profit rate of 8% of the gross turnover - ITAT deleted the addition - Held that:- ITAT has while affirming the decision of the CIT(A), noted that the non-maintenance of stock registers cannot be a ground .....

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the impugned order referred to several decisions to emphasise that the estimate of the net profit rate by the AO had to be on the basis of some evidence. The ITAT and the CIT (A) have concurrently held that the AO failed to consider the fact that th .....

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ed on facts and have not been shown to be perverse, the Court is of the view that no substantial question of law arises in relation to the above issue.

Unexplained withdrawal made by the Assessee from its current account and the bank cash .....

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concurred with the above decision. In the circumstances, this Court is not inclined to frame a question of law on this issue as well. - Decided against revenue. - ITA No. 501/2015 - Dated:- 12-8-2015 - S. Muralidhar And Vibhu Bakhru, JJ. For the App .....

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ate Tribunal ( ITAT ) in ITA no.5673/Del/2012 for the Assessment Year ( AY ) 2009-10. 2. One issue concerns the deletion of the addition of ₹ 43,01,460/- made by the Assessing Officer (AO) by adopting net profit rate of 8% of the gross turnover .....

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the nature of the business. The books of accounts maintained by the Assessee were duly audited and, therefore, the onus is shifted to the Revenue to show that the accounts were incomplete or incorrect. The ITAT has in the impugned order referred to s .....

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