https://www.taxtmi.com/caselaws?id=179709 The appeal against the Commissioner of Income Tax (Appeals) order for the assessment year 2008-09 was partly allowed. The rejection of books of account and application of a 12% net profit rate were challenged, resulting in the net profit rate being adjusted to 9%. Deductions for interest and partner salaries were permitted under section 40(b) of the Income Tax Act, 1961. en-us Fri, 15 Mar 2013 00:00:00 +0530 Tue, 08 Mar 2016 16:22:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=179709 The appeal against the Commissioner of Income Tax (Appeals) order for the assessment year 2008-09 was partly allowed. The rejection of books of account and application of a 12% net profit rate were challenged, resulting in the net profit rate being adjusted to 9%. Deductions for interest and partner salaries were permitted under section 40(b) of the Income Tax Act, 1961. Case-Laws Income Tax Fri, 15 Mar 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=179709