https://www.taxtmi.com/caselaws?id=418124 The Tribunal held that the Assessing Officer's adoption of the gross profit rate declared by the assessee for estimating income from unaccounted sales was a conscious decision, not erroneous. The Tribunal found that the AO had conducted necessary inquiries, differing from the Principal Commissioner of Income Tax's view. Consequently, the Tribunal set aside the revision orders for the assessment years 2013-14 to 2015-16, ruling in favor of the assessee and allowing all three appeals. en-us Tue, 07 Dec 2021 00:00:00 +0530 Wed, 09 Feb 2022 05:44:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=418124 The Tribunal held that the Assessing Officer's adoption of the gross profit rate declared by the assessee for estimating income from unaccounted sales was a conscious decision, not erroneous. The Tribunal found that the AO had conducted necessary inquiries, differing from the Principal Commissioner of Income Tax's view. Consequently, the Tribunal set aside the revision orders for the assessment years 2013-14 to 2015-16, ruling in favor of the assessee and allowing all three appeals. Case-Laws Income Tax Tue, 07 Dec 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=418124