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Estimated Income Reduced Because Declared Profit Was Ignored
Case Law Details
- Case Name
- Ashok Prasad Gupta Vs ITO (ITAT Kolkata)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2017-2018
- Courts
- All ITAT, ITAT Kolkata
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Ashok Prasad Gupta Vs ITO (ITAT Kolkata)
Declared Profit Must Be Set Off Against Estimated Income: Kolkata ITAT Grants Relief in Liquor Trader Case
Estimate Yes, Double Tax No: 8% Applied, But Returned Income Can’t Be Ignored- When Books Are Rejected, Declared Income Still Counts- ITAT Stops Double Addition in Estimated Profit Case
Kolkata ITAT ‘SMC’ Bench in Ashok Prasad Gupta Vs. ITO [ITA No. 1848/KOL/2025, AY 2017-18, order dated 31.12.2025] allowed Assessee’s appeal holding that while estimating income after rejection of books u/s 145(3), AO cannot ignore prof...
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