https://www.taxtmi.com/caselaws?id=334781 The Court dismissed the appeal against the Tribunal's order for the assessment year 2006-07, which involved questions of law regarding the deletion of an addition of Rs. 2,69,00,000 made on account of low gross profit rate. The Court upheld the Tribunal's decision to accept the Assessing Officer's rejection of the books but also the Commissioner's decision on the gross profit rate, emphasizing that the determination of the gross profit rate was a question of fact. The appeal was dismissed as the Court found that the issue raised did not amount to a substantial question of law. en-us Tue, 30 Aug 2016 00:00:00 +0530 Mon, 21 Nov 2016 13:50:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=334781 The Court dismissed the appeal against the Tribunal's order for the assessment year 2006-07, which involved questions of law regarding the deletion of an addition of Rs. 2,69,00,000 made on account of low gross profit rate. The Court upheld the Tribunal's decision to accept the Assessing Officer's rejection of the books but also the Commissioner's decision on the gross profit rate, emphasizing that the determination of the gross profit rate was a question of fact. The appeal was dismissed as the Court found that the issue raised did not amount to a substantial question of law. Case-Laws Income Tax Tue, 30 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=334781