https://www.taxtmi.com/caselaws?id=172405 The Tribunal partly allowed the appeal filed by the assessee, modifying the GP rates for estimating income to 15% for textile business and 5% for iron and steel business. The disallowances of godown rent, telephone expenses, staff welfare expenses, and motor car expenses were upheld due to lack of evidence and proper support. The Tribunal also directed the A.O. to allow consequential relief regarding the levy of interest under sections 234A, 234B, and 234C of the Income Tax Act. en-us Wed, 03 Apr 2013 00:00:00 +0530 Fri, 21 Aug 2015 10:04:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=172405 The Tribunal partly allowed the appeal filed by the assessee, modifying the GP rates for estimating income to 15% for textile business and 5% for iron and steel business. The disallowances of godown rent, telephone expenses, staff welfare expenses, and motor car expenses were upheld due to lack of evidence and proper support. The Tribunal also directed the A.O. to allow consequential relief regarding the levy of interest under sections 234A, 234B, and 234C of the Income Tax Act. Case-Laws Income Tax Wed, 03 Apr 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=172405