https://www.taxtmi.com/caselaws?id=182820 The Tribunal upheld the validity of orders passed under Section 143(3) read with Section 153C of the Income Tax Act, dismissing the assessee's challenge. The adoption of a 7% profit ratio on undisclosed sales was deemed reasonable over the assessee's proposed 6%. Peak credits in bank accounts were upheld as undisclosed investments. Interest under Sections 234B and 234C was mandatory, but interest under Section 234D for certain assessment years was deleted. Unexplained cash additions under Section 69A were upheld, and deficit stock was remitted back for further calculation. Appeals for certain assessment years were partly allowed, while others were dismissed. en-us Fri, 30 Jul 2010 00:00:00 +0530 Fri, 20 May 2016 13:07:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=182820 The Tribunal upheld the validity of orders passed under Section 143(3) read with Section 153C of the Income Tax Act, dismissing the assessee's challenge. The adoption of a 7% profit ratio on undisclosed sales was deemed reasonable over the assessee's proposed 6%. Peak credits in bank accounts were upheld as undisclosed investments. Interest under Sections 234B and 234C was mandatory, but interest under Section 234D for certain assessment years was deleted. Unexplained cash additions under Section 69A were upheld, and deficit stock was remitted back for further calculation. Appeals for certain assessment years were partly allowed, while others were dismissed. Case-Laws Income Tax Fri, 30 Jul 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=182820