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Pr. Commissioner of Income Tax-7 Ahmedabad Versus Gordhan Becharbhai Patel

2016 (9) TMI 7 - GUJARAT HIGH COURT

Addition on profit from Suryarath Scheme - ITAT deleted the addition - Held that:- The assessee had already disclosed the receipts as per the sale and there is no scope for further additions. This view of the Commissioner of Incometax (Appeals) was c .....

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e assessee, over and above which was disclosed which was in tune with the development agreement. - Decided against revenue. - Tax Appeal No. 601 of 2016 - Dated:- 26-7-2016 - Akil Kureshi And A. J. Shastri, JJ. Mr Sudhir M Mehta, Advocate for the App .....

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dition of ₹ 61,33,566/made by the AO on account of profit from Suryarath Scheme, without properly appreciating the facts of the case and the material brought on record by the AO ? 2. We have perused the orders on record with the assistance of t .....

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between the parties. Despite which, the Assessing Officer added a sum of ₹ 61.33 lacs (rounded off) estimated approximately at 10% of the total sale receipts of ₹ 6.99 crores (rounded off) after adjusting the disclosures already made by t .....

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