AO cannot take the position of business man to ascertain GP ratio

ACIT Vs Ashish Bansal (ITAT Delhi) In the case of ACIT vs. Ashish Bansal [ITA No.7427/Del/2018 dated June 2, 2023], the ITAT, New Delhi dismissed the Appeal of the Revenue Department. The ITAT upheld the decision of the Commissioner, who had correctly deleted the addition made by the Assessing Officer. The Assessing Officer had added the differential margin to the assessee’s income based solely on a comparison between industry gross margin and the assessee’s gross margin, without conducting a thorough analysis of the assessee’s business strategy. Facts Ashish Bansal (“the R...