https://www.taxtmi.com/caselaws?id=221749 The High Court affirmed the decisions of the Commissioner of Income Tax (Appeals) and the Tribunal, emphasizing the importance of accurately assessing concealed income and applying the gross profit rate based on unrecorded sales. The Court clarified the liability to pay interest under relevant sections of the Income Tax Act, ultimately dismissing the Revenue's petition and upholding the lower authorities' findings. en-us Wed, 13 Mar 2013 00:00:00 +0530 Thu, 28 Mar 2013 11:51:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=221749 The High Court affirmed the decisions of the Commissioner of Income Tax (Appeals) and the Tribunal, emphasizing the importance of accurately assessing concealed income and applying the gross profit rate based on unrecorded sales. The Court clarified the liability to pay interest under relevant sections of the Income Tax Act, ultimately dismissing the Revenue's petition and upholding the lower authorities' findings. Case-Laws Income Tax Wed, 13 Mar 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=221749