https://www.taxtmi.com/caselaws?id=188622 The Tribunal dismissed the Department's appeal against the CIT(A) order for assessment year 2008-09, upholding the allowance of depreciation and interest deductions at 8% net profit rate. The Tribunal relied on previous decisions and High Court judgments to support the CIT(A)'s directive, emphasizing the proper consideration of net profit rate and rejecting the Department's challenge regarding the maintenance of accounts. en-us Wed, 29 Aug 2012 00:00:00 +0530 Fri, 09 Dec 2016 15:18:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=188622 The Tribunal dismissed the Department's appeal against the CIT(A) order for assessment year 2008-09, upholding the allowance of depreciation and interest deductions at 8% net profit rate. The Tribunal relied on previous decisions and High Court judgments to support the CIT(A)'s directive, emphasizing the proper consideration of net profit rate and rejecting the Department's challenge regarding the maintenance of accounts. Case-Laws Income Tax Wed, 29 Aug 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=188622