https://www.taxtmi.com/caselaws?id=198055 The Tribunal dismissed the assessee's challenge regarding jurisdiction and validity of additions/disallowances under section 143(3). The Tribunal directed an average net profit rate of 10.5% for gross contract receipts, with specific expense verifications for business purposes. Bank guarantee charges, bank commission, and interest disallowances were remitted for verification. The Tribunal upheld the charging of interest under sections 234A, 234B, 234C, and 234D, with directions for consequential effect. The assessee's appeal was partly allowed for statistical purposes, and the revenue's appeal was dismissed. en-us Tue, 20 Aug 2013 00:00:00 +0530 Mon, 22 Jan 2018 12:37:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=198055 The Tribunal dismissed the assessee's challenge regarding jurisdiction and validity of additions/disallowances under section 143(3). The Tribunal directed an average net profit rate of 10.5% for gross contract receipts, with specific expense verifications for business purposes. Bank guarantee charges, bank commission, and interest disallowances were remitted for verification. The Tribunal upheld the charging of interest under sections 234A, 234B, 234C, and 234D, with directions for consequential effect. The assessee's appeal was partly allowed for statistical purposes, and the revenue's appeal was dismissed. Case-Laws Income Tax Tue, 20 Aug 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=198055