9911796707
TMI Blog2017 (8) TMI 665X X X X Extracts X X X X X X X X Extracts X X X X ..... unts. Consequently, the Court declines to frame any question on this issue. The said documents are taken on record. Suppression of gross profits - Held that:- During the physical reconciliation, the Assessee found that the physical availability of the stock was lower than the amount noted in the accounts. The CIT (A) noted that the provision of stock was part of cost of sale which was already a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... A No. 124/Del/2014 for the Assessment Year ( AY ) 2008-09. 2. The Respondent filed its return of income, for the AY in question, declaring a total loss of ₹ 1,46,85,298/- which was revised by the Assessee itself to ₹ 13,39,707/-. The AO passed an order on 15th December, 2010 under Section 143(3) of the Income Tax Act, 1961 ( Act ) assessing the income at ₹ 2,69,79,000/- after ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r the bad debts had indeed been written-off in the books of accounts. Learned counsel for the Assessee, appearing on advance notice, has produced before the Court copies of the Schedules annexed to and forming part of the balance sheet as on 31st March, 1998 which show that the bad debts have been written off in the books of accounts. Consequently, the Court declines to frame any question on thi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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