Reduction in Gross/Net Profit rate not ipso facto a ground for making disallowance of expense but a triggering point for…
Bogus purchases additions not based on average GP or NP declared by the assessee in preceding years or some reasonable…
Profit rate on bogus purchases reduced as assessee also paid VAT on purchases. ITAT directed AO to recompute income after…
Mere agreeing to increased net profit rate, by itself was no ground to levy penalty u/s 271(1)(c) when it was…
Mere fall in net profit rate by itself no ground to increase profit rate as compared to the preceding assessment…
Net profit ratio of 3 percent in contract business allowed as in earlier years even lower profit rate was consistently accepted…
There is no hard and fast rule of earning same net profit rate over different years. Additions made without any…