Court :
INCOME TAX APPELLATE TRIBUNAL
Brief :
The revenue has raised the following grounds of appeal:-
“1.That on the facts and in circumstances of the case the ld. CIT(A) erred in holding that once the profit is estimated after rejecting books of accounts, there is no scope for further disallowance of deduction, whereas the provisions of Section 40(a)(ia)is penal in nature and independently attracted even if income is estimated.
2. That the ld. CIT(A erred in estimating the profit from the business of the assessee relying on the rate of profit declared by the assessee without having any basis thereof.”
Citation :
I.T.O., Ward-4, Haldia (APPELLANT) Versus Sk.Mofizul Ali Purba Medinipur (PAN: ARPPS 1201 D) (RESPONDENT)
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