https://www.taxtmi.com/caselaws?id=219576 The tribunal partly allowed the revenue's appeal, dismissing certain grounds such as the general ground of appeal and the request to set aside the CIT(A) order. The tribunal upheld the CIT(A)'s decision to restrict the net profit rate from 12% to 7% and delete the addition on account of margin in sub-contract work. However, the tribunal allowed the deletion of the addition on account of interest, disagreeing with the CIT(A)'s findings based on a Supreme Court decision. The appeal without a speaking order on depreciation and rejection of books of accounts was also dismissed. en-us Fri, 13 Jul 2012 00:00:00 +0530 Sat, 06 Jul 2013 15:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=219576 The tribunal partly allowed the revenue's appeal, dismissing certain grounds such as the general ground of appeal and the request to set aside the CIT(A) order. The tribunal upheld the CIT(A)'s decision to restrict the net profit rate from 12% to 7% and delete the addition on account of margin in sub-contract work. However, the tribunal allowed the deletion of the addition on account of interest, disagreeing with the CIT(A)'s findings based on a Supreme Court decision. The appeal without a speaking order on depreciation and rejection of books of accounts was also dismissed. Case-Laws Income Tax Fri, 13 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=219576