https://www.taxtmi.com/caselaws?id=352643 The appeal was partly allowed for statistical purposes. The Tribunal directed the Assessing Officer to examine the allowability of statutory deductions and consider relevant case laws. The issue of estimating profits at 15% was disapproved, and the case was remanded for reassessment based on fair and reasonable profit rates. The addition under section 69 was also allowed in favor of the assessee due to lack of nexus with the firm's profits. en-us Fri, 17 Nov 2017 00:00:00 +0530 Thu, 04 Aug 2022 18:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=352643 The appeal was partly allowed for statistical purposes. The Tribunal directed the Assessing Officer to examine the allowability of statutory deductions and consider relevant case laws. The issue of estimating profits at 15% was disapproved, and the case was remanded for reassessment based on fair and reasonable profit rates. The addition under section 69 was also allowed in favor of the assessee due to lack of nexus with the firm's profits. Case-Laws Income Tax Fri, 17 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=352643