Principal Commissioner of Income-tax, Gwalior v. Ravindra Rai
[Citation -2019-LL-0715-43]
| Citation | 2019-LL-0715-43 |
|---|---|
| Appellant Name | Principal Commissioner of Income-tax, Gwalior |
| Respondent Name | Ravindra Rai |
| Court | HIGH COURT OF MADHYA PRADESH AT GWALIOR |
| Relevant Act | Income-tax |
| Date of Order | 15/07/2019 |
| Judgment | View Judgment |
| Keyword Tags | excise department • net profit • rejection of books of accounts |
| Bot Summary: | 20/2019 Gwalior, Dated:-15.7.2019 Shri D.P.S. Bhadoriya, learned counsel for the appellant. This appeal under section 260-A of the Income Tax Act, 1961 directed against the order dated 6.6.2018 passed in I.T.A.No. 303/Agr/2014 by the Income Tax Appellate Tribunal Agra Bench, Agra raises the following question of law; as to: Whether in view of the facts as regard to defects of the sales unsupported by day to day shop wise register of stock and sales, the assessing officer was justified in estimating the turnover on the basis of information received from the Excise Department by rejecting books of accounts under section 145(3) of the Act, 1961 and taxing entire suppressed sale as income, or only the net profit part can be taxed as income. Has been answered against the Revenue in I.T.A.No. |