https://www.taxtmi.com/caselaws?id=188152 The Tribunal partly allowed the assessee's appeal by reducing the net profit rate to 5% and directing the AO to allow depreciation. The Revenue's appeal was dismissed. The decision emphasized considering the specific facts of the current year rather than relying solely on past results or comparable cases, balancing the need for accurate books of account with the practical realities of the business operations. en-us Mon, 26 Aug 2013 00:00:00 +0530 Fri, 09 Dec 2016 12:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=188152 The Tribunal partly allowed the assessee's appeal by reducing the net profit rate to 5% and directing the AO to allow depreciation. The Revenue's appeal was dismissed. The decision emphasized considering the specific facts of the current year rather than relying solely on past results or comparable cases, balancing the need for accurate books of account with the practical realities of the business operations. Case-Laws Income Tax Mon, 26 Aug 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=188152