https://www.taxtmi.com/caselaws?id=176990 The Tribunal upheld the CIT(A)'s decisions on both issues, dismissing the revenue's appeal. The first issue involved the challenge to the deletion of addition of notional interest on an interest-free deposit under section 24, with the Tribunal citing precedents and upholding the CIT(A)'s decision. The second issue concerned the challenge to the deletion of an addition on account of low gross profit, with the Tribunal emphasizing the need for specific and material defects in the books of account to reject the shown results. en-us Wed, 27 Apr 2011 00:00:00 +0530 Fri, 01 Jan 2016 10:51:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=176990 The Tribunal upheld the CIT(A)'s decisions on both issues, dismissing the revenue's appeal. The first issue involved the challenge to the deletion of addition of notional interest on an interest-free deposit under section 24, with the Tribunal citing precedents and upholding the CIT(A)'s decision. The second issue concerned the challenge to the deletion of an addition on account of low gross profit, with the Tribunal emphasizing the need for specific and material defects in the books of account to reject the shown results. Case-Laws Income Tax Wed, 27 Apr 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=176990