Saturday, October 4, 2014

[aaykarbhavan] Tribunal relies on assessment of subsequent years to estimate gross profit at 2% of undisclosed receipts



Tribunal relies on assessment of subsequent years to estimate gross profit at 2% of undisclosed receipts

October 4, 2014[2014] 49 taxmann.com 68 (Karnataka)
IT : Where in course of search proceedings, assessee declared certain undisclosed trading receipts, Tribunal relying upon assessment orders of subsequent three years, was justified in adopting gross profit rate of 2 per cent of such undisclosed receipts
 
Regards
Prarthana Jalan


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Posted by: Prarthana Jalan <prarthanajalan@ymail.com>


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