https://www.taxtmi.com/caselaws?id=245989 The Tribunal partially allowed the appeal, modifying the Gross Profit rate for income computation based on the average rate from preceding years. The rejection of book results was upheld due to the unverifiable yield ratio, leading to the addition of Rs.11,81,194/- to the income of the assessee. The Tribunal directed the Assessing Officer to re-compute the income using a Gross Profit rate of 21.79% instead of the 22% estimated by the Assessing Officer, partially siding with the assessee's contentions. en-us Tue, 25 Mar 2014 00:00:00 +0530 Sun, 13 Apr 2014 20:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=245989 The Tribunal partially allowed the appeal, modifying the Gross Profit rate for income computation based on the average rate from preceding years. The rejection of book results was upheld due to the unverifiable yield ratio, leading to the addition of Rs.11,81,194/- to the income of the assessee. The Tribunal directed the Assessing Officer to re-compute the income using a Gross Profit rate of 21.79% instead of the 22% estimated by the Assessing Officer, partially siding with the assessee's contentions. Case-Laws Income Tax Tue, 25 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=245989