https://www.taxtmi.com/caselaws?id=207654 The Tribunal partially allowed the appeal, directing the AO to modify the additions made and conduct a fresh adjudication on the issue of fixed deposits. It emphasized the importance of providing credible evidence to substantiate claims and cooperation during assessments. The decision underscored the necessity of justifying rates applied and considering turnover of entities in the same trade. The assessee's appeal was successful in reducing the additions based on net profit rate calculations and necessitated further evidence for the contested fixed deposit addition. en-us Fri, 11 Jun 2010 00:00:00 +0530 Tue, 20 Dec 2011 09:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=207654 The Tribunal partially allowed the appeal, directing the AO to modify the additions made and conduct a fresh adjudication on the issue of fixed deposits. It emphasized the importance of providing credible evidence to substantiate claims and cooperation during assessments. The decision underscored the necessity of justifying rates applied and considering turnover of entities in the same trade. The assessee's appeal was successful in reducing the additions based on net profit rate calculations and necessitated further evidence for the contested fixed deposit addition. Case-Laws Income Tax Fri, 11 Jun 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=207654