Income Tax - Revision u/s 263 by CIT - low income from liquor business -...

Income Tax

Revision u/s 263 by CIT - low income from liquor business - the books of account, which are duly audited and furnished before the Assessing Officer, were never rejected and therefore, the observation of the PCIT that the Assessing Officer should have adopted profit rate of 3% to 5% from liquor trade cannot be sustained. - AT

View Source