https://www.taxtmi.com/caselaws?id=204788 The High Court ruled in favor of the revenue in an appeal regarding the determination of the appropriate net profit rate for the assessee for the assessment year 1993-94. The Court found that the Tribunal had not adequately considered the unexplained cash credits, which led to an incorrect decision in reducing the net profit rate. Consequently, the Court allowed the appeal, set aside the Tribunal's order, and remitted the matter back to the Tribunal for a fresh decision in accordance with the law. en-us Thu, 03 Feb 2011 00:00:00 +0530 Mon, 05 Sep 2011 14:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=204788 The High Court ruled in favor of the revenue in an appeal regarding the determination of the appropriate net profit rate for the assessee for the assessment year 1993-94. The Court found that the Tribunal had not adequately considered the unexplained cash credits, which led to an incorrect decision in reducing the net profit rate. Consequently, the Court allowed the appeal, set aside the Tribunal's order, and remitted the matter back to the Tribunal for a fresh decision in accordance with the law. Case-Laws Income Tax Thu, 03 Feb 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=204788