https://www.taxtmi.com/caselaws?id=329027 The ITAT Jaipur upheld the CIT(A)'s decisions, dismissing the Revenue's appeal. The disallowance of expenses was restricted to a 5.05% net profit rate instead of the 10.2% applied by the AO, resulting in a reduced addition of Rs. 17,75,488. Additionally, the addition under Section 41(1) for unconfirmed liabilities amounting to Rs. 58,87,032 was deleted by the CIT(A) and upheld by the ITAT due to lack of proper procedure and supporting material. en-us Wed, 15 Jun 2016 00:00:00 +0530 Tue, 21 Jun 2016 11:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=329027 The ITAT Jaipur upheld the CIT(A)'s decisions, dismissing the Revenue's appeal. The disallowance of expenses was restricted to a 5.05% net profit rate instead of the 10.2% applied by the AO, resulting in a reduced addition of Rs. 17,75,488. Additionally, the addition under Section 41(1) for unconfirmed liabilities amounting to Rs. 58,87,032 was deleted by the CIT(A) and upheld by the ITAT due to lack of proper procedure and supporting material. Case-Laws Income Tax Wed, 15 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=329027