Case Law Details
Case Name : Income Tax Officer Vs Paraskumar V.Kataria Prop. (ITAT Rajkot)
Related Assessment Year : 1999-2000
Courts :
All ITAT ITAT Rajkot
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Argument on behalf of Revenue that the CIT(A) has committed error in modifying the GP rate at 03.56% as against 07.29% applied by the AO on suppressed sales. In this regard, we note that the AO issued notice under s.142(1) of the Income Tax Act, 1961 asking the assessee to show-cause as to why the GP or unaccounted sales should not be estimated at par with the GP on accounted sales.
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