Appeals for old tax years allowed after delay condonation, profit rate reduced.

The appeals for assessment years 1973-74 and 1974-75, which were initially time-barred, were allowed after condonation of the delay. The net profit rate was reduced from 10.5% to 10% in line with previous Tribunal decisions.

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The appeals relate to assessment years 1973-74 and 1974-75. They were time-barred by one day due to postal delay, which was condoned. The appellant challenged the net profit rate at 10.5%, but it was reduced to 10% based on previous Tribunal decisions. The appeals were allowed.

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