https://www.taxtmi.com/caselaws?id=352725 The Tribunal partly allowed the appeal, directing the Assessing Officer (AO) to adopt the declared Gross Profit (GP) rate of 17.40% and delete certain additions. It found the rejection of books of accounts unjustified, emphasizing the importance of proper inquiry and evidence to support AO's actions. The Tribunal set aside issues for fresh verification, noting discrepancies in the AO's decisions regarding unexplained money and credits. The Tribunal also directed the deletion of disallowed expenses without sufficient evidence. en-us Thu, 30 Nov 2017 00:00:00 +0530 Wed, 20 Dec 2017 08:45:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=352725 The Tribunal partly allowed the appeal, directing the Assessing Officer (AO) to adopt the declared Gross Profit (GP) rate of 17.40% and delete certain additions. It found the rejection of books of accounts unjustified, emphasizing the importance of proper inquiry and evidence to support AO's actions. The Tribunal set aside issues for fresh verification, noting discrepancies in the AO's decisions regarding unexplained money and credits. The Tribunal also directed the deletion of disallowed expenses without sufficient evidence. Case-Laws Income Tax Thu, 30 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=352725