Unrealistic 169% Profit Margin Additions on Jewellery Trader Remanded

Kathir Kaman Jewels Pvt. Ltd. Vs DCIT (ITAT Chennai) 6% or 169%? – Unrealistic Margins Exposed: Tribunal remands additions on Jewellery Trader’s Seized Data- Additions on Unaccounted Sales Without Stock adjustment Not Sustainable – ITAT Chennai The appeals arose out of assessments framed u/s 143(3) r.w.s. 153C pursuant to a search on 23.11.2016 at the premises of Shri B. Ayyappan, shareholder of the Assessee-company. During the search, incriminating documents & electronic data were seized, & in a sworn statement u/s 132(4), Shri Ayyappan admitted undisclosed income of ₹11.5...