Assessment of AOP - Addition adopting net profit ratio @ 11.59% ...
Income Tax
December 5, 2019
Assessment of AOP - Addition adopting net profit ratio @ 11.59% of the gross receipts - Tribunal as a matter of fact has found that the requirements of CBDT circular referred to hereinabove are duly satisfied in the case of the assessee and hence, once the amount has been offered to tax by its members, the assessee could not be saddled with the liability to pay tax in respect of the same amount.
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