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Gp/np ratio of e-comm venfors


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Querist : Anonymous

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Querist : Anonymous (Querist)
10 December 2016 Is there any case law regarding e-comm vendors selling product online.
The A.O. had completed assessment u/s 144 and applied NP ratio as per his discretion.
Since total turnover is the total credits in bank account where there is no doubt.
Only due to not maintaining books of accounts for a turnover of Rs.30 Lacs, he raised huge demand by applying section 144 best judgement assessment.

10 December 2016 Have you filed return ? have you received any notice from AO ?

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Querist : Anonymous

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Querist : Anonymous (Querist)
12 December 2016 ITR has been filed taking turnover incorrectly for half year only. And np was taken @ 16%.

AO has computed gross turnover from bank statement and passed best judgement assessment u/s 144 taking np @ 40%.

I had to file appeal against this discretionary power of AO.

So if there is any case law regarding the same ?






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