https://www.taxtmi.com/caselaws?id=351357 The Tribunal upheld the Commissioner of Income-tax (Appeals) decision to adjust the gross profit rate to 7% for an assessee engaged in liquor trading. The Tribunal confirmed certain unexplained cash credits under Section 68 while deleting others based on detailed examinations of each transaction. The Tribunal denied the assessee's request to set off trading addition against the addition of cash credits, resulting in a partial allowance of appeals from both the assessee and the Revenue. en-us Fri, 11 Aug 2017 00:00:00 +0530 Tue, 21 Nov 2017 16:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=351357 The Tribunal upheld the Commissioner of Income-tax (Appeals) decision to adjust the gross profit rate to 7% for an assessee engaged in liquor trading. The Tribunal confirmed certain unexplained cash credits under Section 68 while deleting others based on detailed examinations of each transaction. The Tribunal denied the assessee's request to set off trading addition against the addition of cash credits, resulting in a partial allowance of appeals from both the assessee and the Revenue. Case-Laws Income Tax Fri, 11 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=351357