TMI BlogUnderstatement of sales price / turnover - there was no allegation by the Revenue that the assessee by...Understatement of sales price / turnover - there was no allegation by the Revenue that the assessee by making the sale at a price lower than the cost of purchase has received some consideration without recording the same in the books of accounts. - Decline in the GP rate and NP rate in comparison to the immediately preceding assessment year cannot be criteria to reject the books. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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