ITAT Deletes GP Addition as AO Failed to Reject Books Under Section 145(3)

Advertisement Isha Metal Stores Vs ACIT (ITAT Raipur) The appeal arose from the order of the Commissioner of Income Tax (Appeals), Raipur-3, for Assessment Year 2019-20. The assessee, engaged in retail and wholesale trading of household goods, had filed its return declaring total income of Rs. 28,08,610. During a survey conducted on 19.02.2019, the department found a physical bill book titled “Chandan Estimate Cash Memo” containing sales of Rs. 48,49,112 that were not recorded in the computerized accounts maintained in Tally. The partner of the assessee admitted that the purchas...