https://www.taxtmi.com/caselaws?id=186594 The revenue's appeal against the CIT(A) order for the assessment year 1999-2000, challenging the rejection of book results and additions made by the Assessing Officer, was dismissed. The CIT(A) held that once book results were rejected, income had to be estimated using a suitable gross profit rate, leading to the deletion of all additions. The Tribunal upheld the 6.50% gross profit rate applied in previous assessment years, and the CIT(A)'s estimation of profit at 8% was deemed appropriate. Consequently, the order of the CIT(A) was upheld, and the revenue's appeal was dismissed on 15.07.2011. en-us Fri, 15 Jul 2011 00:00:00 +0530 Fri, 23 Sep 2016 14:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=186594 The revenue's appeal against the CIT(A) order for the assessment year 1999-2000, challenging the rejection of book results and additions made by the Assessing Officer, was dismissed. The CIT(A) held that once book results were rejected, income had to be estimated using a suitable gross profit rate, leading to the deletion of all additions. The Tribunal upheld the 6.50% gross profit rate applied in previous assessment years, and the CIT(A)'s estimation of profit at 8% was deemed appropriate. Consequently, the order of the CIT(A) was upheld, and the revenue's appeal was dismissed on 15.07.2011. Case-Laws Income Tax Fri, 15 Jul 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=186594