AO cannot take the position of business man to ascertain GP ratio
Last updated: 19 June 2023
Court :
ITAT, New Delhi
Brief :
The ITAT, New Delhi in The ACIT, Circle-47(1), New Delhi v. Ashish Bansal [ITA No.7427/Del/2018 dated June 2, 2023]dismissed the Appeal of the Revenue Department and held that the Commissioner has correctly deleted the addition made by the Assessing Officer who merely by comparing industry gross margin and assessee�s gross margin added the differential margin to the income of the assessee without analysing business strategy of the assessee.
Citation :
ITA No.7427/Del/2018 dated June 2, 2023
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Bimal Jain
Published in Income Tax
Views : 430
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