https://www.taxtmi.com/caselaws?id=188216 The High Court upheld the ITAT's decision to reduce the net profit rate to 8% for a contractor firm operating in a remote border area, dismissing the revenue's appeal. Additionally, the Court affirmed the allowance of depreciation from the net profit, distinguishing it from other deductions. The Court found no substantial question of law in the appeal, ultimately upholding the decisions of the CIT(A) and ITAT. en-us Thu, 13 Mar 2014 00:00:00 +0530 Tue, 22 Nov 2016 11:46:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=188216 The High Court upheld the ITAT's decision to reduce the net profit rate to 8% for a contractor firm operating in a remote border area, dismissing the revenue's appeal. Additionally, the Court affirmed the allowance of depreciation from the net profit, distinguishing it from other deductions. The Court found no substantial question of law in the appeal, ultimately upholding the decisions of the CIT(A) and ITAT. Case-Laws Income Tax Thu, 13 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=188216