Estimation of profit on the suppressed sale - Additional ...

Assessment Officer's Gross Profit Calculation Overturned Due to Lack of Evidence on Suppressed Sales Beyond Excise Findings.

April 14, 2022

Case Laws Income Tax AT

Estimation of profit on the suppressed sale - Additional undisclosed income - the revenue has not brought any material on record suggesting that the assessee has made suppressed sales over and above the amount determined by the excise department. Thus in the absence of any information available on record, we hold that the AO has wrongly determined the gross profit by working out the suppressed sale more than the amount determined by the excise department. - AT

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Estimation of profit on the suppressed sale - Additional ...

Assessment Officer's Gross Profit Calculation Overturned Due to Lack of Evidence on Suppressed Sales Beyond Excise Findings.

April 14, 2022

Case Laws Income Tax AT

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