https://www.taxtmi.com/caselaws?id=171346 The Tribunal upheld the deletion of trading addition under section 145 of the Income Tax Act as the Assessing Officer failed to provide a basis for applying a 20% gross profit rate. Additionally, the Tribunal found the reduction of car maintenance expenses, depreciation on car, and telephone expenses from 20% to 10% by the Ld. CIT(A) to be reasonable and appropriate, dismissing the revenue's appeal. en-us Tue, 25 Oct 2011 00:00:00 +0530 Fri, 17 Jul 2015 11:00:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=171346 The Tribunal upheld the deletion of trading addition under section 145 of the Income Tax Act as the Assessing Officer failed to provide a basis for applying a 20% gross profit rate. Additionally, the Tribunal found the reduction of car maintenance expenses, depreciation on car, and telephone expenses from 20% to 10% by the Ld. CIT(A) to be reasonable and appropriate, dismissing the revenue's appeal. Case-Laws Income Tax Tue, 25 Oct 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=171346