ITAT upholds Addition of Income from Cricket Betting as Business Income applying 1% of GP [Read Order]

ITAT - Income - Cricket Betting - Business Income - GP - TAXSCAN

Income Tax Appellate Tribunal (ITAT), Ahmedabad bench consisting of Pramod M Jagtap, Vice President and Suchitra R Kamble, Judicial Member upheld addition of Income from Cricket Betting as Business Income applying 1% of Gross Profit. The assessee, Shri Kashyap Suresh Brahmbhatt is an individual. The Vigilance Squad of State Police, Gandhinagar conducted a raid at…

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