https://www.taxtmi.com/caselaws?id=192990 In both assessment years, the Tribunal partly allowed the appeals. The Tribunal directed the Assessing Officer to adopt the net profit figures as declared in the bank statements and restricted the disallowance of expenses to 10%. Additions related to college fees, bank deposits, and FDR investments were upheld due to lack of explanation. en-us Tue, 08 Mar 2016 00:00:00 +0530 Fri, 07 Jul 2017 14:23:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=192990 In both assessment years, the Tribunal partly allowed the appeals. The Tribunal directed the Assessing Officer to adopt the net profit figures as declared in the bank statements and restricted the disallowance of expenses to 10%. Additions related to college fees, bank deposits, and FDR investments were upheld due to lack of explanation. Case-Laws Income Tax Tue, 08 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=192990