ITAT: Gross Profit Cannot Be Estimated Without Rejecting Books of Account:
ITAT allowed the assessee's appeal, holding that an average GP rate cannot be applied in the absence of defects in the books.
ITAT Deletes GP Addition Without Book Rejection
Vanshika verma
Jul 14, 2026Premium
ITAT: Gross Profit Cannot Be Estimated Without Rejecting Books of Account
ITAT allowed the assessee's appeal, holding that an average GP rate cannot be applied in the absence of defects in the books.
Also Read
Rs 39.72 Lakh Tax Addition: ITAT Gives NRI Taxpayer Fresh Chance to Explain InvestmentITAT Remands Rs 92 Lakh Capital Gain Addition to CIT(A)ITAT Remands Section 12AB Registration Application for Fresh ConsiderationITAT Upholds Rs 10.91 Lakh Addition on Unrecorded Job Work Transactions at 8% Profit Rate
About Author
Vanshika verma
Content Writer
Vanshika Verma is a Content Writer with 1+ year of experience at Studycafe.in. A B.Com graduate from Delhi University, She writes articles on Finance, Tax, ICAI, GST, and the latest financial news, with a focus on making complex topics easy for readers and professionals.
Vanshika Verma is a Content Writer with 1+ year of experience at Studycafe.in. A B.Com graduate from Delhi University, She writes articles on Finance, Tax, ICAI, GST, and the latest financial news, with a focus on making complex topics easy for readers and professionals.
Studycafe
Delhi, Delhi, India
1736My Recent Articles
- Rs 39.72 Lakh Tax Addition: ITAT Gives NRI Taxpayer Fresh Chance to Explain InvestmentPremium
- ITAT Remands Section 12AB Registration Application for Fresh ConsiderationPremium
- 494-Day Delay Condoned: ITAT Pune Directs CIT(A) to Reconsider Tax AppealPremium
- ITAT Grants HUF Fresh Opportunity to Contest Rs 20 Lakh Unexplained Income Addition After CIT(A) DismissalPremium
- ITAT Quashes 80G Rejection, Cites Bombay HC Ruling on Religious-Charitable TrustsPremium
Up Next
Loading suggestions…
Recent Posts
All Posts
Tags
Recent Posts
All Posts