No Addition can be made on Estimated basis, without rejecting Books of Account of Assessee: ITAT [Read Order]

Books of Account - Assessee - ITAT - taxscan

The Income Tax Appellate Tribunal (ITAT), Ahmedabad bench consisting of Waseem Ahmed, Accountant Member and Siddhartha Nautiyal, Judicial Member held that no addition can be made on estimated basis, without rejecting books of account of assessee. Investigation team of the Excise Department revealed that tile manufacturers were declaring only 50% of the actual ex-factory prices…

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