Assessee's business (Liquor business) is such that it cannot ...
Income Tax
July 5, 2016
Assessee's business (Liquor business) is such that it cannot maintain proper sale bills and the profit varies from area to area and small variation of the profit cannot be ruled out. No ground for rejecting the book results. Therefore, declared audited results are to be accepted and estimation of income by applying profit rate of 8% was not proper.
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