Estimating higher gross profit rate without rejecting books of account or pointing out any defects or discrepancies in the audited…
Reduction in Gross/Net Profit rate not ipso facto a ground for making disallowance of expense but a triggering point for…
No merit in holding that estimated addition has to be made on account of fall in gross profit rate. ITAT…
No penalty could be levied on the difference resulted due to adoption of different GP rates made on estimate basis…
Gross Profit rate can not be same each year. AO could not step into the shoes of businessman to determine…
Higher GP rate adoption for mere fall in rate from preceding year. It cannot be a sole reason for choosing…
If higher GP rate applied no further trading account disallowance can be made INCOME TAX APPELLATE TRIBUNAL, KOLKATA ‘B’ BENCH,…