Having accepted that the expenditure claimed was bogus, the ...

ITAT's Use of GP Ratio Deemed Unnecessary, Fraudulent Expenditure Acknowledged, Order Reversed, Tax Liability Increased.

February 11, 2019

Case Laws Income Tax HC

Having accepted that the expenditure claimed was bogus, the ITAT, for strange and unexplained reasons, applied the GP Ratio which was entirely unwarranted and thus, reduced the tax liability of the assessee drastically. - order of ITAT reversed.

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Having accepted that the expenditure claimed was bogus, the ...

ITAT's Use of GP Ratio Deemed Unnecessary, Fraudulent Expenditure Acknowledged, Order Reversed, Tax Liability Increased.

February 11, 2019

Case Laws Income Tax HC

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