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1 - 10 of 12 (0.71 seconds)N.R. Paper And Board Limited And Ors. vs Deputy Commissioner Of Income-Tax on 23 March, 1998
16. Ground no.5 relates to addition of Rs.59,208/- on account
of profit on unaccounted sales & unaccounted labour charges. On
examination of the seized documents BS-3, BS-5, and BS-6, AO
noticed unaccounted sales for the period 20.1.99 to 23.1.99,
21,1.99 to 27,1.99 and 12.1.99 to 29.1.99. Accordingly, the AO
added gross profit for an amount of Rs.54,683/-,calculated @15% of
the unaccounted sales, corresponding purchases having already
been accounted for in the books, while relying upon decision of the
ITAT, Bombay Bench in the case of Sundram Agencies and M/s
N.R. Paper and Board Ltd, and Others vs. Dy. CIT, 234 ITR
733(Guj).Besides, another amount of Rs.4,525/- on account of
unaccounted labour receipts mentioned in seized document BS-4,
was also added.