2019 (11) TMI 1063

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..... e on the premise that the Assessing Officer has not doubted and, therefore, not rejected the books of accounts presented by the assessee. Consequently, it was not open to the AO to proceed to make an assessment of the net profit of the assessee on the basis of the comparison made with the industry trade. In our view, the reasoning adopted by the Tribunal appears to be sound, and therefore, no .....

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..... ribunal has dismissed the said appeal preferred by the Revenue against the order dated 22.05.2015 passed by the learned CIT (Appeals). The respondent assessee is engaged in the business of distribution of potable liquor. The assessee is part of Chadha Group . A search was undertaken against the said group under Section 132 of the Act on 01.02.2012. Thereafter, notice under Section .....

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..... referred by the Revenue on the premise that the Assessing Officer has not doubted and, therefore, not rejected the books of accounts presented by the assessee. Consequently, it was not open to the Assessing Officer to proceed to make an assessment of the net profit of the assessee on the basis of the comparison made with the industry trade. In our view, the reasoning adopted by th .....

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