The Income Tax Appellate Tribunal ( ITAT ), Jaipur bench has held that an insignificant decline in the Gross Profit cannot be a reason for an addition under the Income Tax Act, 1961. The Assessing Officer made an addition of Rs. 3.00 lakhs on the ground that the gross profit rate is lower as compared […]
The post Insignificant Decline in Gross Profit can’t be a Reason for Addition: ITAT [Read Order] appeared first on Taxscan | Simplifying Tax Laws.
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