https://www.taxtmi.com/caselaws?id=356284 The Tribunal partially allowed the appeal, directing the AO to reassess the income based on a reasonable GP rate derived from the assessee's past history. The Tribunal emphasized that a trading addition is not necessary if the declared GP rate is higher than the benchmark. The procedural lapse in dismissing the appeal for non-appearance was acknowledged, and the matter was set aside for fresh adjudication. en-us Wed, 21 Feb 2018 00:00:00 +0530 Wed, 28 Feb 2018 06:31:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=356284 The Tribunal partially allowed the appeal, directing the AO to reassess the income based on a reasonable GP rate derived from the assessee's past history. The Tribunal emphasized that a trading addition is not necessary if the declared GP rate is higher than the benchmark. The procedural lapse in dismissing the appeal for non-appearance was acknowledged, and the matter was set aside for fresh adjudication. Case-Laws Income Tax Wed, 21 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=356284