Sh. Rakesh Bansal vs Income Tax Officer, Ward-II(4), Faridabad, Haryana-121006

Parties Involved

Facts Summary

The assessee’s appeal for Assessment Year 2009-10 arises against the CIT(A), Faridabad’s order dated 31.01.2019 in case No. 11192/2016-17, in proceedings u/s 144 of the Income Tax Act, 1961. The assessee challenges the assessment findings dated 22.12.2011 and upheld in the lower appellate discussion that his G P estimation ought not to be estimated @5% in trading business along with disallowance of loss on house property of Rs.1,50,000/- and Chapter-VI deduction of Rs.75,889/-.…

Legal Issues

• 1. GP estimation @5% in trading business
• 2. Disallowance of loss on house property
• 3. Chapter-VI deduction

Judgment Outcome

Decided in favour of Assessee.

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