https://www.taxtmi.com/caselaws?id=358012 The tribunal dismissed the Revenue's appeal, allowing the assessee's appeal. It emphasized the higher GP rate declared by the assessee for the current year, accepted in previous years. The tribunal concluded that no additional income was justified based on the facts and historical GP rates. It noted that the rejection of books of accounts does not necessitate an addition if the GP rate aligns with historical data. The tribunal's decision on 28/03/2018 upheld established principles and past decisions. en-us Wed, 28 Mar 2018 00:00:00 +0530 Wed, 04 Apr 2018 06:38:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=358012 The tribunal dismissed the Revenue's appeal, allowing the assessee's appeal. It emphasized the higher GP rate declared by the assessee for the current year, accepted in previous years. The tribunal concluded that no additional income was justified based on the facts and historical GP rates. It noted that the rejection of books of accounts does not necessitate an addition if the GP rate aligns with historical data. The tribunal's decision on 28/03/2018 upheld established principles and past decisions. Case-Laws Income Tax Wed, 28 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=358012