2020 (5) TMI 362

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....AJAY TEWARI, J. (ORAL) 1. This appeal has been filed against the judgment of the Tribunal whereby the appeal filed by the Revenue was rejected. 2. The following questions of law have been proposed:- 1. Whether the Ld. ITAT was right in law as well as on facts in upholding the order of Ld. CIT(A) in deleting the addition of Rs. 15,53,42,066/- made by the AO on account of difference in the net p....

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....tally of stock, profit can be estimated by the ITO. 3. Brief facts are that the Books of Accounts of the assessee were found to be doubtful on the ground that Net Profit rate had dropped drastically in the preceding years. Subsequently, a remand was ordered and in the remand report the Books of Accounts produced were checked but no finding of any discrepancy was ascertained. It was in these circu....