https://www.taxtmi.com/caselaws?id=270234 The Tribunal upheld the ld. CIT(A)'s decision to reduce the gross profit percentage from 30% to 15% based on grey purchases data, emphasizing the requirement for justifiable profit estimation. Additionally, the Tribunal dismissed the Revenue's appeal regarding the disallowance of foreign export commission payments, accepting the explanation provided by the assessee and highlighting the importance of proper documentation and compliance with regulatory guidelines in expense claims. The judgment emphasized the significance of substantiating expenses, maintaining accurate records, and adhering to legal provisions for tax compliance. en-us Fri, 31 Jul 2015 00:00:00 +0530 Fri, 01 Jan 2016 10:46:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=270234 The Tribunal upheld the ld. CIT(A)'s decision to reduce the gross profit percentage from 30% to 15% based on grey purchases data, emphasizing the requirement for justifiable profit estimation. Additionally, the Tribunal dismissed the Revenue's appeal regarding the disallowance of foreign export commission payments, accepting the explanation provided by the assessee and highlighting the importance of proper documentation and compliance with regulatory guidelines in expense claims. The judgment emphasized the significance of substantiating expenses, maintaining accurate records, and adhering to legal provisions for tax compliance. Case-Laws Income Tax Fri, 31 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=270234