Case Law Details
Case Name : Kamlesh Gupta Vs DCIT (ITAT Delhi)
Related Assessment Year : 2009-10
Courts :
All ITAT ITAT Delhi
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Kamlesh Gupta Vs DCIT (ITAT Delhi)
In a landmark ruling, the Income Tax Appellate Tribunal (ITAT), Delhi, in the case of Kamlesh Gupta Vs DCIT, held that an addition made on the account of estimated profit applied to turnover does not constitute concealment. Therefore, no penalty should be imposed. The decision is likely to have significant implications for businesses, particularly in cases where profit estimation methods are used.
The case revolved around the assessment years from 2009 to
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