https://www.taxtmi.com/caselaws?id=67021 The appeal was allowed by the Appellate Tribunal, which independently assessed the case and decided to apply a net profit rate of 11% instead of the 12.5% rate imposed by the Income-tax Officer. The Tribunal considered the significant increase in business turnover and directed the Income-tax Officer to recalculate the relief accordingly. Additionally, the Tribunal allowed the assessee to raise an additional ground regarding entitlement to relief under section 80J of the IT Act, providing both parties with an opportunity to present their case for further examination by the AAC. en-us Fri, 12 Mar 1982 00:00:00 +0530 Tue, 08 Mar 2011 17:44:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67021 The appeal was allowed by the Appellate Tribunal, which independently assessed the case and decided to apply a net profit rate of 11% instead of the 12.5% rate imposed by the Income-tax Officer. The Tribunal considered the significant increase in business turnover and directed the Income-tax Officer to recalculate the relief accordingly. Additionally, the Tribunal allowed the assessee to raise an additional ground regarding entitlement to relief under section 80J of the IT Act, providing both parties with an opportunity to present their case for further examination by the AAC. Case-Laws Income Tax Fri, 12 Mar 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67021