https://www.taxtmi.com/caselaws?id=256490 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decision to delete the additions based on incorrect application of net profit rates and lack of proper inquiry and material evidence in the assessment process. The additions made on account of net profit rate and information from a third party were found to be unjustified, leading to double taxation. The Tribunal concluded that the AO's approach was flawed, resulting in the deletion of the additions and dismissing all grounds of the Revenue's appeal. en-us Mon, 25 Aug 2014 00:00:00 +0530 Sat, 14 Feb 2015 13:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=256490 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decision to delete the additions based on incorrect application of net profit rates and lack of proper inquiry and material evidence in the assessment process. The additions made on account of net profit rate and information from a third party were found to be unjustified, leading to double taxation. The Tribunal concluded that the AO's approach was flawed, resulting in the deletion of the additions and dismissing all grounds of the Revenue's appeal. Case-Laws Income Tax Mon, 25 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=256490