https://www.taxtmi.com/caselaws?id=352983 The Tribunal dismissed both the Revenue's appeals and the assessee's cross objections for all three assessment years, affirming the CIT(A)'s decision to restrict the trading addition to Rs. 11.54 lacs based on historical GP rates and uphold the rejection of books due to unverifiable purchases. The Tribunal emphasized the significance of using the GP rate for income estimation after book rejection, aligning with past judgments. en-us Fri, 15 Dec 2017 00:00:00 +0530 Tue, 26 Dec 2017 08:40:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=352983 The Tribunal dismissed both the Revenue's appeals and the assessee's cross objections for all three assessment years, affirming the CIT(A)'s decision to restrict the trading addition to Rs. 11.54 lacs based on historical GP rates and uphold the rejection of books due to unverifiable purchases. The Tribunal emphasized the significance of using the GP rate for income estimation after book rejection, aligning with past judgments. Case-Laws Income Tax Fri, 15 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=352983