https://www.taxtmi.com/caselaws?id=68555 The Tribunal upheld the CIT(A)'s orders in a tax appeal involving a civil contractor. The Tribunal affirmed the computation of income at a 5% profit rate with deductions for interest paid to 3rd parties, rejecting the Revenue's challenge. Additionally, the Tribunal supported the deletion of an addition under section 40A(3) for cash payments exceeding the limit, based on the computation method used. The Tribunal dismissed the Revenue's appeal, confirming the CIT(A)'s decisions on both issues. en-us Thu, 01 Jul 2004 00:00:00 +0530 Thu, 31 Mar 2011 10:50:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68555 The Tribunal upheld the CIT(A)'s orders in a tax appeal involving a civil contractor. The Tribunal affirmed the computation of income at a 5% profit rate with deductions for interest paid to 3rd parties, rejecting the Revenue's challenge. Additionally, the Tribunal supported the deletion of an addition under section 40A(3) for cash payments exceeding the limit, based on the computation method used. The Tribunal dismissed the Revenue's appeal, confirming the CIT(A)'s decisions on both issues. Case-Laws Income Tax Thu, 01 Jul 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68555