GP margin cannot be enhanced without finding any sales/purchases not recorded in books

PCIT Vs Smart Value Products And Services Ltd. (Himachal Pradesh High Court)

In the present case, Appellate Authority as well as the Tribunal have carefully gone through the record of the case and have found that the Assessing Officer had computed monthwise and quarter wise trading account for enhancing the gross profit. The Assessing Officer had failed to consider the genuine purchases and sales made by the assessee, which had been duly entered in the books of account. The nature of business carried by the assessee was also

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