https://www.taxtmi.com/caselaws?id=67316 The appeals were partly allowed by the Tribunal in a case involving disputes over the estimate of gross profit and disallowance in shop expenses for the assessment years 1972-73 & 1973-74. The Tribunal directed acceptance of the disclosed gross profit of 13.4% and 12.5% for the respective years, rejecting the Income Tax Officer's estimated 14% gross profit due to lack of evidence. Additionally, the disallowed shop expenses of Rs. 3,000 per year were reduced to Rs. 1,500 per year, providing relief to the assessee for both years. en-us Mon, 28 May 1979 00:00:00 +0530 Thu, 10 Mar 2011 10:29:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67316 The appeals were partly allowed by the Tribunal in a case involving disputes over the estimate of gross profit and disallowance in shop expenses for the assessment years 1972-73 & 1973-74. The Tribunal directed acceptance of the disclosed gross profit of 13.4% and 12.5% for the respective years, rejecting the Income Tax Officer's estimated 14% gross profit due to lack of evidence. Additionally, the disallowed shop expenses of Rs. 3,000 per year were reduced to Rs. 1,500 per year, providing relief to the assessee for both years. Case-Laws Income Tax Mon, 28 May 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67316