https://www.taxtmi.com/caselaws?id=117216 The ITAT partially allowed the appeal, providing relief to the appellant by reducing the net profit rate estimation and interest charges. The ITAT found the Assessing Officer's net profit rate estimations excessive based on historical data and directed a lower rate. Additionally, the ITAT ruled in favor of the appellant regarding the charging of interest under sections 234B and 234C, directing the Assessing Officer to delete the levy of interest as specific provisions were not applied, in line with relevant case law. en-us Wed, 27 Nov 2002 00:00:00 +0530 Thu, 21 Jun 2012 11:00:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=117216 The ITAT partially allowed the appeal, providing relief to the appellant by reducing the net profit rate estimation and interest charges. The ITAT found the Assessing Officer's net profit rate estimations excessive based on historical data and directed a lower rate. Additionally, the ITAT ruled in favor of the appellant regarding the charging of interest under sections 234B and 234C, directing the Assessing Officer to delete the levy of interest as specific provisions were not applied, in line with relevant case law. Case-Laws Income Tax Wed, 27 Nov 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=117216