https://www.taxtmi.com/caselaws?id=193309 The Tribunal upheld the CIT(A)'s decision in a tax case involving undisclosed turnover and the application of Net Profit rate. The assessee's appeal against the addition based on undisclosed turnover and NP rate adjustment was dismissed due to insufficient evidence provided for commission income transactions. The Tribunal emphasized the importance of substantiated evidence for income transactions and supported the CIT(A)'s decision to reduce the NP rate from 10% to 8% based on disclosed turnover. en-us Fri, 16 Sep 2016 00:00:00 +0530 Mon, 24 Jul 2017 10:13:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=193309 The Tribunal upheld the CIT(A)'s decision in a tax case involving undisclosed turnover and the application of Net Profit rate. The assessee's appeal against the addition based on undisclosed turnover and NP rate adjustment was dismissed due to insufficient evidence provided for commission income transactions. The Tribunal emphasized the importance of substantiated evidence for income transactions and supported the CIT(A)'s decision to reduce the NP rate from 10% to 8% based on disclosed turnover. Case-Laws Income Tax Fri, 16 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=193309