https://www.taxtmi.com/caselaws?id=260637 The tribunal dismissed the Revenue's appeal and partly allowed the assessee's appeal. The tribunal directed the Assessing Officer to apply a gross profit rate of 8% instead of 8.5% and upheld the deletions and disallowances made by the CIT(A) where justified. The additions related to unexplained investment in plant and machinery and disallowance of depreciation were upheld, while the addition under section 68 was deleted due to the assessee providing sufficient evidence to prove the transaction's genuineness. en-us Fri, 05 Jun 2015 00:00:00 +0530 Fri, 19 Jun 2015 06:27:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=260637 The tribunal dismissed the Revenue's appeal and partly allowed the assessee's appeal. The tribunal directed the Assessing Officer to apply a gross profit rate of 8% instead of 8.5% and upheld the deletions and disallowances made by the CIT(A) where justified. The additions related to unexplained investment in plant and machinery and disallowance of depreciation were upheld, while the addition under section 68 was deleted due to the assessee providing sufficient evidence to prove the transaction's genuineness. Case-Laws Income Tax Fri, 05 Jun 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=260637