https://www.taxtmi.com/caselaws?id=199042 The Tribunal upheld the CIT(A)'s decision to reduce the net profit rate from 5% to 0.5% for a partnership-firm engaged in liquor retail trade for the assessment year 2010-11. The Department's appeal was dismissed as the CIT(A)'s decision was deemed fair and reasonable based on the appellant's compliance with Excise Department regulations and proper record-keeping, despite the Department's arguments regarding the unique market conditions in a small town. en-us Fri, 28 Nov 2014 00:00:00 +0530 Mon, 19 Feb 2018 08:33:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=199042 The Tribunal upheld the CIT(A)'s decision to reduce the net profit rate from 5% to 0.5% for a partnership-firm engaged in liquor retail trade for the assessment year 2010-11. The Department's appeal was dismissed as the CIT(A)'s decision was deemed fair and reasonable based on the appellant's compliance with Excise Department regulations and proper record-keeping, despite the Department's arguments regarding the unique market conditions in a small town. Case-Laws Income Tax Fri, 28 Nov 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=199042