The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) in ACIT v. Kitman International, held that once the Addition is made by estimating Gross Profit as a whole, then there is no need for separate additions or disallowances under the Income Tax Act. In the instant case, the Assessing Officer issued notices […]
The post If Addition made by Estimating Gross Profit as a Whole, Separate Additions not Warranted: ITAT [Read Order] appeared first on Taxscan | Simplifying Tax Laws.
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