https://www.taxtmi.com/caselaws?id=344841 The Tribunal upheld the decision of the CIT(A) in the case, ruling that there was a close connection between the assessee and another entity, indicating a scheme to inflate profits for higher deductions under Section 80IC. The Tribunal deemed the 30% net profit rate set by the CIT(A) as reasonable, providing relief to the assessee while addressing concerns of profit manipulation. Consequently, the assessee's appeal was dismissed, affirming the application of a 30% net profit rate for the deduction under Section 80IC. en-us Mon, 27 Feb 2017 00:00:00 +0530 Thu, 29 Jun 2017 12:52:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=344841 The Tribunal upheld the decision of the CIT(A) in the case, ruling that there was a close connection between the assessee and another entity, indicating a scheme to inflate profits for higher deductions under Section 80IC. The Tribunal deemed the 30% net profit rate set by the CIT(A) as reasonable, providing relief to the assessee while addressing concerns of profit manipulation. Consequently, the assessee's appeal was dismissed, affirming the application of a 30% net profit rate for the deduction under Section 80IC. Case-Laws Income Tax Mon, 27 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=344841