https://www.taxtmi.com/caselaws?id=238011 The tribunal partly allowed the Revenue's appeal and deemed the assessee's appeal infructuous. The Revenue's contentions of non-genuine expenses were upheld due to the assessee's failure to provide adequate details and substantiation, leading to an inflated income assessment. The tribunal applied a flat 6% net profit rate to gross receipts, disregarding additional deductions, to determine the assessee's income for the assessment year 2005-2006. en-us Fri, 04 Oct 2013 00:00:00 +0530 Mon, 14 Oct 2013 10:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=238011 The tribunal partly allowed the Revenue's appeal and deemed the assessee's appeal infructuous. The Revenue's contentions of non-genuine expenses were upheld due to the assessee's failure to provide adequate details and substantiation, leading to an inflated income assessment. The tribunal applied a flat 6% net profit rate to gross receipts, disregarding additional deductions, to determine the assessee's income for the assessment year 2005-2006. Case-Laws Income Tax Fri, 04 Oct 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=238011