Case Law Details
Case Name : Commissioner of Income Tax Vs Kiran Industries Pvt Ltd (Gujarat High Court at Ahmedabad)
Related Assessment Year :
Courts :
All High Courts Gujarat High Court
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Having perused the documents on record with the assistance of the learned counsel for the revenue, we notice that the Tribunal had though confirmed the view of the revenue authorities with respect to the rejection of the books of account of the assessee, did not accept the re-computation of higher rate of gross profit on the premise that the average gross profit rate of last three years immediately preceding the year under consideration came to 14.79%. On such basis, the Tribunal found that the claim of gross profit rate @ 15.27% cannot be
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