https://www.taxtmi.com/caselaws?id=247113 The Income Tax Appellate Tribunal (ITAT) partially allowed the Revenue's appeal by directing the Assessing Officer to adopt a net profit rate of 8% on gross receipts, reducing the income from Rs. 33,47,155 to Rs. 10,71,000. The ITAT also instructed verification for the cash credit addition under section 68 of the Act and dismissed the issue of admitting fresh evidences. Additionally, the ITAT allowed the assessee's Cross-Objection concerning the disallowance of cash expenses. en-us Mon, 03 Mar 2014 00:00:00 +0530 Fri, 02 May 2014 19:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=247113 The Income Tax Appellate Tribunal (ITAT) partially allowed the Revenue's appeal by directing the Assessing Officer to adopt a net profit rate of 8% on gross receipts, reducing the income from Rs. 33,47,155 to Rs. 10,71,000. The ITAT also instructed verification for the cash credit addition under section 68 of the Act and dismissed the issue of admitting fresh evidences. Additionally, the ITAT allowed the assessee's Cross-Objection concerning the disallowance of cash expenses. Case-Laws Income Tax Mon, 03 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=247113