Paramount Impex Vs ACIT (ITAT Chandigarh)

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Last updated: 09 December 2020
Quick Summary
The Income Tax Appellate Tribunal (ITAT) Chandigarh heard an appeal from Paramount Impex concerning the assessment year 2013-14. The core issue was the rejection of the assessee's books of account under Section 145(3) of the Income Tax Act due to the absence of a stock register and defects in stock valuation. The Assessing Officer had estimated the gross profit at 18%, a figure later reduced to 16% by the CIT(A). Paramount Impex appealed this decision.

Court :
ITAT Chandigarh

Brief :
The present appeal has been filed by the assessee against the order passed by the Ld. Commissioner of Income Tax (Appeals)-I, Ludhiana(hereinafter referred to as “CIT(A)] u/s 250(6) of the Income Tax Act,1961(in short referred to as “Act”) dt.30-08-2015 relating to assessment year(A.Y)2013-14)

Citation :
ITA NO. 1097/Chd/2016

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1 Year PLAN
1999
(Excl. of GST ₹359)

2 Years PLAN
3499
(Excl. of GST ₹629)

BEST VALUE
3 Years PLAN
4999
(Excl. of GST ₹899)

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