https://www.taxtmi.com/caselaws?id=75753 The Court dismissed the appeal against the ITAT order for A.Y. 2003-2004 regarding the computation of the gross profit ratio under Section 145(3) of the Income Tax Act. The lower authorities accepted the explanation provided by the assessee for the lower gross profit ratio, noting the absence of discrepancies in the audited accounts and the reliability of the accounting method employed. The Court found no substantial question of law as the accounts were deemed complete and upheld the decision of the lower authorities to delete the addition made by the Assessing Officer. en-us Mon, 26 Apr 2010 00:00:00 +0530 Wed, 13 Jan 2016 12:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=75753 The Court dismissed the appeal against the ITAT order for A.Y. 2003-2004 regarding the computation of the gross profit ratio under Section 145(3) of the Income Tax Act. The lower authorities accepted the explanation provided by the assessee for the lower gross profit ratio, noting the absence of discrepancies in the audited accounts and the reliability of the accounting method employed. The Court found no substantial question of law as the accounts were deemed complete and upheld the decision of the lower authorities to delete the addition made by the Assessing Officer. Case-Laws Income Tax Mon, 26 Apr 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=75753