https://www.taxtmi.com/caselaws?id=304458 The Revenue's appeal against the CIT(A)-II, Ahmedabad's order, which deleted an addition of Rs. 1,62,22,980/- made on account of estimation of Gross Profit (GP) by rejecting the assessee's books of accounts u/s 145 of the Income Tax Act, was dismissed. The ITAT upheld the CIT(A)'s decision, noting that no defects were found in the post-search period books, the fall in GP was explained by the disclosure of unaccounted income, and the increase in purchase prices justified the decline in GP. The deletion of the addition was upheld, and the Revenue's appeal was rejected. en-us Wed, 27 Nov 2013 00:00:00 +0530 Tue, 27 Sep 2022 14:06:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=304458 The Revenue's appeal against the CIT(A)-II, Ahmedabad's order, which deleted an addition of Rs. 1,62,22,980/- made on account of estimation of Gross Profit (GP) by rejecting the assessee's books of accounts u/s 145 of the Income Tax Act, was dismissed. The ITAT upheld the CIT(A)'s decision, noting that no defects were found in the post-search period books, the fall in GP was explained by the disclosure of unaccounted income, and the increase in purchase prices justified the decline in GP. The deletion of the addition was upheld, and the Revenue's appeal was rejected. Case-Laws Income Tax Wed, 27 Nov 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=304458