https://www.taxtmi.com/caselaws?id=218617 The High Court held that the Tribunal erred in restricting the net profit at 12.5% of the receipt of the Arbitration Award, as the entire receipt had to be considered as income under Section 176(3A) of the Income Tax Act. The relief granted to the assessee was also found to be unjustified due to the incorrect computation of income. Therefore, the appeal was allowed in favor of the appellant based on these findings. en-us Wed, 31 Oct 2012 00:00:00 +0530 Wed, 21 Nov 2012 06:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=218617 The High Court held that the Tribunal erred in restricting the net profit at 12.5% of the receipt of the Arbitration Award, as the entire receipt had to be considered as income under Section 176(3A) of the Income Tax Act. The relief granted to the assessee was also found to be unjustified due to the incorrect computation of income. Therefore, the appeal was allowed in favor of the appellant based on these findings. Case-Laws Income Tax Wed, 31 Oct 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=218617