https://www.taxtmi.com/caselaws?id=252575 The High Court dismissed the appeal challenging the Income Tax Appellate Tribunal's order under Section 260A of the Income Tax Act, 1961. It upheld the ITAT's decision that the gross profit rate calculation covered expenses adequately, eliminating the need for invoking Section 40A(3) for disallowances. The Court found the Tribunal's discretionary judgment legally sound, with no substantial questions of law requiring further review. en-us Tue, 07 Oct 2014 00:00:00 +0530 Wed, 29 Oct 2014 07:34:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=252575 The High Court dismissed the appeal challenging the Income Tax Appellate Tribunal's order under Section 260A of the Income Tax Act, 1961. It upheld the ITAT's decision that the gross profit rate calculation covered expenses adequately, eliminating the need for invoking Section 40A(3) for disallowances. The Court found the Tribunal's discretionary judgment legally sound, with no substantial questions of law requiring further review. Case-Laws Income Tax Tue, 07 Oct 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=252575