https://www.taxtmi.com/caselaws?id=217098 The Tribunal dismissed both the assessee and Revenue's appeals, upholding the CIT(A)'s decisions. The CIT(A)'s higher estimation of gross profit rate to offset deleted additions was affirmed, emphasizing the need for reasonable income estimation due to defects in the books of accounts. The Tribunal found the 15% gross profit rate on a turnover of Rs. 1.90 crores justified, confirming the deletion of various additions and disallowances by the CIT(A). en-us Fri, 13 Jul 2012 00:00:00 +0530 Mon, 01 Oct 2012 11:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=217098 The Tribunal dismissed both the assessee and Revenue's appeals, upholding the CIT(A)'s decisions. The CIT(A)'s higher estimation of gross profit rate to offset deleted additions was affirmed, emphasizing the need for reasonable income estimation due to defects in the books of accounts. The Tribunal found the 15% gross profit rate on a turnover of Rs. 1.90 crores justified, confirming the deletion of various additions and disallowances by the CIT(A). Case-Laws Income Tax Fri, 13 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=217098