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“net profit rate estimation”

ICDS & AccountingSection 145Section 1452 judgments

SANKALP RECREATION PRIVATE LIMITED,AHMEDABAD vs. THE ASSTT. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(2), AHMEDABAD

ITA 576/AHD/2022[2019-20]Status: DisposedITAT Ahmedabad24 Sept 2024AY 2019-20

Bench: Shri T.R. Senthil Kumar & Shri Makarand V. Mahadeokar

For Appellant: Shri Tushar Hemani, Sr.Advocate &For Respondent: Dr. Darsi Suman Ratnam, CIT-DR &
Section 132Section 143(3)Section 145Section 153ASection 36(1)(va)Section 69C

entire unaccounted receipts. The issue at hand is the estimation of profit, and the CIT(A) has correctly factored these into the Net Profit Rate estimation without making an arbitrary decision. IT(ss)A No.64/Ahd/2022 along with 10 other appeals (By assessee and By Revenue) Sankalp recreation Pvt.Ltd. vs. ACIT

THE ASSTT. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(2), AHMEDABAD vs. SANKALP RECREATION PVT. LTD., AHMEDABAD

ITA 569/AHD/2022[2019-20]Status: DisposedITAT Ahmedabad24 Sept 2024AY 2019-20

Bench: Shri T.R. Senthil Kumar & Shri Makarand V. Mahadeokar

For Appellant: Shri Tushar Hemani, Sr.Advocate &For Respondent: Dr. Darsi Suman Ratnam, CIT-DR &
Section 132Section 143(3)Section 145Section 153ASection 36(1)(va)Section 69C

entire unaccounted receipts. The issue at hand is the estimation of profit, and the CIT(A) has correctly factored these into the Net Profit Rate estimation without making an arbitrary decision. IT(ss)A No.64/Ahd/2022 along with 10 other appeals (By assessee and By Revenue) Sankalp recreation Pvt.Ltd. vs. ACIT