Dismissing the appeal of the revenue the Court held that the Tribunal finding gross profit shown by assessee to be reasonable, found that assessee’s claim of interest expenditure and depreciation was required to be allowed. Whether Tribunal, after thoroughly examining material available on record had assessed income of assessee and same being essentially a question of fact and appreciation of evidence. No question of law. (AY. 2016-17)
PCIT v. Varha Infra Ltd. (2022) 285 Taxman 561/ 135 taxmann.com 77/328 CTR 115 / 216 DTR 316 (Raj.) (HC)
S. 145 : Method of accounting-Estimation of net profit-Interest and depreciation allowed-Question of fact. [S. 260A]