BHAWARLAL S JAIN,VIJAYAPURA vs. INCOME TAX OFFICER, WARD 1 & TPS, BIJAPUR

In the result, the appeal of the assessee is hereby partly allowed

Bench: Shri Waseem Ahmed & Shri Keshav Dubeyassessment Year: 2014-15

69A read with section 115BBE of the Act. 11. In the rejoinder, the ld. AR presented a chart that displayed the percentage of gross profit reported by the assessee in both previous and subsequent years. Accordingly, the learned AR contended that the GP declared by the assessee at the rate of 2.65 percent should be adopted for calculating the income