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Case Law Details

Case Name : CIT Vs Shri Hariram Bhambhani (Bombay High Court)
Related Assessment Year :
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Issue- Whether on the facts and in the circumstances of the case and in law, the Tribunal was justified in upholding the order of the CIT(A) in which he had directed the Assessing Officer to tax 4% net profit on unaccounted sales of Rs.35 lakhs even though no evidence of unaccounted purchases/ expenses against such unaccounted sales was detected at the time of survey?

On 21st September, 2006, there was a survey operation under Section 133A of the Act on the Respondent­ Assessee. During the course of the survey, it was noticed

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