https://www.taxtmi.com/caselaws?id=193840 The Tribunal partially allowed the appeal by reducing the gross profit rate and deleting the addition of initial investment in undisclosed business activities. The delay in filing the appeal was condoned due to the assessee's illness, emphasizing the need for liberal exercise in such cases. The addition of income from the pawning business was upheld but with a reduction in the gross profit rate from 8% to 7%, as the initial rate was deemed on the higher side. The stay application for recovery of outstanding demand was dismissed as infructuous. en-us Thu, 18 Dec 2014 00:00:00 +0530 Mon, 21 Aug 2017 08:10:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=193840 The Tribunal partially allowed the appeal by reducing the gross profit rate and deleting the addition of initial investment in undisclosed business activities. The delay in filing the appeal was condoned due to the assessee's illness, emphasizing the need for liberal exercise in such cases. The addition of income from the pawning business was upheld but with a reduction in the gross profit rate from 8% to 7%, as the initial rate was deemed on the higher side. The stay application for recovery of outstanding demand was dismissed as infructuous. Case-Laws Income Tax Thu, 18 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=193840