https://www.taxtmi.com/caselaws?id=260312 The tribunal partially allowed the appeal, providing relief to the assessee in the assessment for the year in question. The tribunal upheld the rejection of books of account due to inadequate records but reduced the gross profit rate to 4.46% based on past history, instead of the 7% estimated by the authorities. The tribunal balanced the decision by considering the business's past performance and circumstances, resulting in a fair outcome for the assessee. en-us Fri, 20 Mar 2015 00:00:00 +0530 Tue, 09 Jun 2015 07:26:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=260312 The tribunal partially allowed the appeal, providing relief to the assessee in the assessment for the year in question. The tribunal upheld the rejection of books of account due to inadequate records but reduced the gross profit rate to 4.46% based on past history, instead of the 7% estimated by the authorities. The tribunal balanced the decision by considering the business's past performance and circumstances, resulting in a fair outcome for the assessee. Case-Laws Income Tax Fri, 20 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=260312