https://www.taxtmi.com/highlights?id=53787 Understatement of sales price / turnover - there was no allegation by the Revenue that the assessee by making the sale at a price lower than the cost of purchase has received some consideration without recording the same in the books of accounts. - Decline in the GP rate and NP rate in comparison to the immediately preceding assessment year cannot be criteria to reject the books. en-us Mon, 22 Jun 2020 06:53:35 +0530 Mon, 22 Jun 2020 06:53:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=53787 Understatement of sales price / turnover - there was no allegation by the Revenue that the assessee by making the sale at a price lower than the cost of purchase has received some consideration without recording the same in the books of accounts. - Decline in the GP rate and NP rate in comparison to the immediately preceding assessment year cannot be criteria to reject the books. Highlights Income Tax Mon, 22 Jun 2020 06:53:35 +0530 https://www.taxtmi.com/highlights?id=53787