Gorja Steel Processors vs DCIT

Parties Involved

Facts Summary

The case involves an appeal by Gorja Steel Processors against the order of the Commissioner of Income Tax (Appeals) in relation to assessment orders passed under section 143(3)/153A of the Income Tax Act, 1961. The appellant contested the rejection of their books of account by the Assessing Officer and the subsequent estimation of gross profit at 4% and later reduced to 3% by the Commissioner of Income Tax (Appeals). The appellant argued that the rejection of their books of account was unjustified and that the estimation of gross profit was arbitrary and without basis. The appellant also claimed that the Assessing Officer failed to provide an opportunity for cross-examination of deponents and did not provide the entire adverse material available on record.…

Legal Issues

• 1. Rejection of books of account by the Assessing Officer
• 2. Estimation of gross profit at 4% and later reduced to 3%

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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