Once the sales are accepted, the entire undisclosed purchases ...

Undisclosed Purchases: Use Profit Rate, Not Full Addition, for Income Calculation Based on Gross Profit Standards.

July 16, 2015

Case Laws Income Tax AT

Once the sales are accepted, the entire undisclosed purchases cannot be added for computing the income of the assessee except by applying a profit rate i.e. gross profit as declared by assessee in regular books of account or the gross profit declared by other concerns in the similar trade. - AT

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Once the sales are accepted, the entire undisclosed purchases ...

Undisclosed Purchases: Use Profit Rate, Not Full Addition, for Income Calculation Based on Gross Profit Standards.

July 16, 2015

Case Laws Income Tax AT

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