ITAT directs Readjudication in respect of sale of Gyrovator to customers out of Unaccounted Purchases [Read Order]

ITAT - Readjudication - sale of Gyrovator - Unaccounted Purchases - TAXSCAN

The Income Tax Appellate Tribunal (ITAT), Raipur bench, directed re-adjudication in respect of the sale of a gyrovator to customers out of its unaccounted purchases. The assessee, Shivam Tractor, engaged in the business of trading tractors, trolleys, and spare parts, filed its return of income for A.Y. 2013-14 on 08.03.2016, declaring an income of Rs….

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