This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Inventory Software Not Equal to Unaccounted Income: ITAT Restricts Profit to 2.5%
Case Law Details
- Case Name
- Mohanlal Jewellers Pvt Ltd Vs DCIT (ITAT Chennai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2017-18
- Courts
- All ITAT, ITAT Chennai
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
Advertisement
Mohanlal Jewellers Pvt Ltd Vs DCIT (ITAT Chennai)
Inventory Software Not Equal to Unaccounted Income: ITAT Relief to Jewellers- Profit on Unaccounted Sales Restricted to 2.5%
Assessee is engaged in manufacture & wholesale trading of gold bullion & jewellery, besides providing making/job-work services. Pursuant to a search u/s 132, electronic data was seized from a customised software named “J-Pack”, which allegedly recorded both accounted & unaccounted transactions. AO treated the entire data as undisclosed & made huge additions on account of ‘Ghat’...
Author Info
