Authorities Reject 7% NP Ratio u/s 145, Settle on 0.5% GP Ratio for Trading Concerns. No Further Action Needed. https://www.taxtmi.com/highlights?id=67587 Rejection of books u/s 145 - NP estimation - NP ratio of 7% being impractical and completely unacceptable and as most of the trading concerns have been operating at the GP ratio of 0.5% to 1%, when both the authorities have deemed it appropriate to apply 0.5% ratio, no indulgence is necessary. - HC en-us Mon, 09 Jan 2023 08:59:02 +0530 Mon, 09 Jan 2023 08:59:02 +0530 TaxTMI RSS Generator Authorities Reject 7% NP Ratio u/s 145, Settle on 0.5% GP Ratio for Trading Concerns. No Further Action Needed. https://www.taxtmi.com/highlights?id=67587 Rejection of books u/s 145 - NP estimation - NP ratio of 7% being impractical and completely unacceptable and as most of the trading concerns have been operating at the GP ratio of 0.5% to 1%, when both the authorities have deemed it appropriate to apply 0.5% ratio, no indulgence is necessary. - HC Highlights Income Tax Mon, 09 Jan 2023 08:59:02 +0530 https://www.taxtmi.com/highlights?id=67587