Tax Case: Income from Unrecorded Raw Material Sales Estimated with 10% GP Rate by Commissioner of Income Tax (Appeals).

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Estimation of income - sale outside the books was of the raw material and not of the electrical transformers. - the applicability of GP rate of 10% on the sale of raw material by the CIT(A) is fully justified. - AT....