{"id":13633,"date":"2020-11-02T14:01:55","date_gmt":"2020-11-02T14:01:55","guid":{"rendered":"https:\/\/itatonline.org\/digest\/kedia-exports-p-ltd-v-acit-2020-81-itr-83-sn-jaipur-trib\/"},"modified":"2020-11-02T14:01:55","modified_gmt":"2020-11-02T14:01:55","slug":"kedia-exports-p-ltd-v-acit-2020-81-itr-83-sn-jaipur-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/kedia-exports-p-ltd-v-acit-2020-81-itr-83-sn-jaipur-trib\/","title":{"rendered":"Kedia Exports P. Ltd. v. ACIT (2020) 81 ITR 83( SN) ( Jaipur) (Trib)"},"content":{"rendered":"<p>Tribunal held that once books of\u00a0 account rejected Assessing Officer required to\u00a0 estimate income of assessee on\u00a0 reasonable and proper basis. Past history can form basis for estimating current year\u2019s gross profit . Gross profit estimated at\u00a0 10.22 Per Cent. as against gross profit declared by\u00a0 assessee at 10.04 Per Cent. For the year under consideration ,addition equivalent to\u00a0 gross profit rate of\u00a0 0.18 Per Cent. on declared turnover upheld. ( AY.2009-10, 2012-13 to 2014-15)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S.145: Method of accounting &#8211; Bogus purchases \u2014 Estimation of  Income \u2014  Addition Equivalent to Gross profit rate of  0.18 Per Cent. on declared turnover upheld [ S.37(1), 144 ,  145(3) ]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-13633","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-3xT","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/13633","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=13633"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/13633\/revisions"}],"predecessor-version":[{"id":13634,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/13633\/revisions\/13634"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=13633"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=13633"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=13633"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}