https://www.taxtmi.com/caselaws?id=268495 The appeal of the revenue regarding the deletion of addition made on account of share application money was dismissed. The appeal of the assessee regarding the addition made on account of sundry creditors was allowed, and the appeal of the revenue was partly allowed. The Tribunal directed the Assessing Officer to restrict the addition to Rs. 2,21,600/- and rejected the Commissioner of Income Tax (Appeals)'s direction to estimate the Gross Profit rate at 6%. en-us Fri, 09 Oct 2015 00:00:00 +0530 Wed, 16 Aug 2017 15:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=268495 The appeal of the revenue regarding the deletion of addition made on account of share application money was dismissed. The appeal of the assessee regarding the addition made on account of sundry creditors was allowed, and the appeal of the revenue was partly allowed. The Tribunal directed the Assessing Officer to restrict the addition to Rs. 2,21,600/- and rejected the Commissioner of Income Tax (Appeals)'s direction to estimate the Gross Profit rate at 6%. Case-Laws Income Tax Fri, 09 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=268495