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Unaccounted Liquor Sales—Profit to Be Estimated, Not Gross Receipts Taxed: ITAT Chandigarh
Case Law Details
- Case Name
- Kapil Gupta Vs ACIT (ITAT Chandigarh)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2023-24
- Courts
- All ITAT, ITAT Chandigarh
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Kapil Gupta Vs ACIT (ITAT Chandigarh)
Unaccounted Liquor Sales—Profit to Be Estimated, Not Gross Receipts Taxed: ITAT Chandigarh Restricts Additions, Deletes Multiple 69A/69 Addition
The Chandigarh ‘B’ Bench of the Income Tax Appellate Tribunal, Chandigarh Bench partly allowed a batch of four appeals filed by Shri Kapil Gupta for AYs 2020-21 to 2023-24, arising out of search proceedings in the Himgiri Beverages group, and granted substantial relief by rationalising additions on commercial principles.
A search u/s 132 on 04.11.2022 resulted in seizure of three personal di...
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