https://www.taxtmi.com/caselaws?id=209722 The Department's appeal and the Cross-Objections of the assessee were dismissed. The CIT (A)'s decision to apply a net profit rate of 10.5% instead of 10%, and the deletion of additions under sections 40A(3) and 37(1) were upheld by the Tribunal. The Tribunal emphasized that once a net profit rate is determined, no further additions are warranted, and found the application of the 10.5% rate justified under section 145(3) of the Act. en-us Tue, 03 Jan 2012 00:00:00 +0530 Fri, 23 Sep 2016 17:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=209722 The Department's appeal and the Cross-Objections of the assessee were dismissed. The CIT (A)'s decision to apply a net profit rate of 10.5% instead of 10%, and the deletion of additions under sections 40A(3) and 37(1) were upheld by the Tribunal. The Tribunal emphasized that once a net profit rate is determined, no further additions are warranted, and found the application of the 10.5% rate justified under section 145(3) of the Act. Case-Laws Income Tax Tue, 03 Jan 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=209722