https://www.taxtmi.com/caselaws?id=349847 The appeals challenging the order by the Ld. Commissioner of Income Tax (Appeals)-II for AY 2007-08 were dismissed. The Assessing Officer's additions were partially confirmed, including treating certain deposits and interest as income. The Tribunal upheld the decisions, emphasizing that additions should not be made solely based on GP rate decline without specific defects in accounts. The deletion of additions on interest earned on earmarked funds was also upheld, as it should not be considered as corporation income. The Tribunal affirmed the Ld. CIT (A)'s decisions, leading to the dismissal of both appeals. en-us Tue, 24 Oct 2017 00:00:00 +0530 Thu, 26 Oct 2017 08:38:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=349847 The appeals challenging the order by the Ld. Commissioner of Income Tax (Appeals)-II for AY 2007-08 were dismissed. The Assessing Officer's additions were partially confirmed, including treating certain deposits and interest as income. The Tribunal upheld the decisions, emphasizing that additions should not be made solely based on GP rate decline without specific defects in accounts. The deletion of additions on interest earned on earmarked funds was also upheld, as it should not be considered as corporation income. The Tribunal affirmed the Ld. CIT (A)'s decisions, leading to the dismissal of both appeals. Case-Laws Income Tax Tue, 24 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=349847