AO couldn’t reject books of account to estimate higher GP rate without providing hearing opportunity to assessee

INCOME TAX: Assessing Officer could not have rejected books of account of assessee and estimated gross profit at rate of 12 per cent of total sales turnover as against rate of 8.36 per cent without providing assessee an opportunity to present his claim

from www.taxmann.com Latest Case Laws https://www.taxmann.com/topstories/101010000000194171/ao-couldn’t-reject-books-of-account-to-estimate-higher-gp-rate-without-providing-hearing-opportunity-to-assessee.aspx