https://www.taxtmi.com/caselaws?id=251251 The Tribunal partially allowed the assessee's appeal by applying a 7% net profit rate and permitting the deduction of joint venture charges as interest expenses. The Revenue's appeal was rejected, confirming the rejection of books of account and the income estimation method based on past history. The decision highlights the significance of maintaining accurate accounting records and supporting claims with sufficient evidence. en-us Fri, 05 Sep 2014 00:00:00 +0530 Tue, 09 Sep 2014 10:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=251251 The Tribunal partially allowed the assessee's appeal by applying a 7% net profit rate and permitting the deduction of joint venture charges as interest expenses. The Revenue's appeal was rejected, confirming the rejection of books of account and the income estimation method based on past history. The decision highlights the significance of maintaining accurate accounting records and supporting claims with sufficient evidence. Case-Laws Income Tax Fri, 05 Sep 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=251251