https://www.taxtmi.com/caselaws?id=210715 The Tribunal partially allowed the appeals by directing the application of a 15% profit rate on the cash amount received by the assessee from property sales, considering possible expenses. The Tribunal dismissed the Misc. Applications by the assessee, deeming them frivolous due to unargued grounds and imposed a cost of Rs.5,000/- each for filing false applications. Failure to pay the costs within one month would result in recovery by the AO as arrears of taxes. en-us Fri, 06 Jan 2012 00:00:00 +0530 Wed, 22 Feb 2012 07:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=210715 The Tribunal partially allowed the appeals by directing the application of a 15% profit rate on the cash amount received by the assessee from property sales, considering possible expenses. The Tribunal dismissed the Misc. Applications by the assessee, deeming them frivolous due to unargued grounds and imposed a cost of Rs.5,000/- each for filing false applications. Failure to pay the costs within one month would result in recovery by the AO as arrears of taxes. Case-Laws Income Tax Fri, 06 Jan 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=210715