HC upheld Application of GP on unaccounted sales to make additions

CIT Vs. V R Textiles (Ahmedabad High Court)- The Tribunal further noted that the assessee had not placed any material to depict whether it had made any claim before the Income Tax Officer or at the stage of appeal. It had not disputed the income as well as sales made outside the books of account and had also paid the excise duty. By further noting that the Excise Department had noted that the assessee has made unaccounted sales of Rs. 3.86 Crores, the CIT {A} was justified in taking the figure of unaccounted sales computed by the excise authorities as against the figure worked out by the Ass...