Analysing AO making additions on Peak Purchase Credit

CA Divyajeet Singh Sabharwal , Last updated: 20 January 2024  
  Share

The Income Tax Appellate Tribunal (ITAT) has stirred the tax landscape with a recent ruling holding that the Assessing Officer (AO) cannot make additions on peak purchase credit if the ITAT itself had applied a 4% gross profit (GP) rate to bogus purchases from a previous year. This judgment, with fa

You have reached daily limit of 2 Free Articles. To view this or other Articles please subscribe to CCI PRO :

GST Plus

Stay updated! Stay ads free

Browse CAclubindia ads free.
Latest updates on WA.
Daily E-Newsletter and much more.

CCI PRO annual subscription :

Original Price : INR 1999/-

Offer Price : INR 999/-

Duration : 1 year
(Prices Inclusive of GST)


Know More

Note: If you are a PRO member already, please click here to login (for ad free experience)
Join CCI Pro

Published by

CA Divyajeet Singh Sabharwal
(Accounts and Finance Analyst)
Category Income Tax   Report

Other Articles  
Comment   Share
  450 Views
Comments

Related Articles


Loading


Popular Articles




CCI Pro

Trending Online Classes

view all classess

CCI Articles

You can also submit your article by sending to article@caclubindia.com

submit article

Browse by Category