https://www.taxtmi.com/caselaws?id=286584 The High Court dismissed the Revenue's appeal against the Income Tax Appellate Tribunal's decision to delete additions for suppression of sale and low GP rate. The Tribunal's reliance on the availability of accounts and proper sales recording justified the computation of profit based on the books of accounts, leading to the deletion of the low GP addition. The High Court found no valid reason to reject the books of accounts and concluded that no substantial question of law arose, ultimately upholding the Tribunal's decision and dismissing the appeal. en-us Wed, 14 Sep 2011 00:00:00 +0530 Wed, 04 Mar 2020 17:15:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=286584 The High Court dismissed the Revenue's appeal against the Income Tax Appellate Tribunal's decision to delete additions for suppression of sale and low GP rate. The Tribunal's reliance on the availability of accounts and proper sales recording justified the computation of profit based on the books of accounts, leading to the deletion of the low GP addition. The High Court found no valid reason to reject the books of accounts and concluded that no substantial question of law arose, ultimately upholding the Tribunal's decision and dismissing the appeal. Case-Laws Income Tax Wed, 14 Sep 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=286584