https://www.taxtmi.com/caselaws?id=358024 The court ruled in favor of the appellant, holding that the gross profit (GP) rate must be supported by positive evidence and should not be influenced by future years' data for earlier assessments. The orders of the CIT(A) and ITAT were quashed, allowing for reassessment if evidence supporting the GP rate for the relevant assessment year is provided. The appellant was granted an opportunity to be heard, and the appeal was disposed of accordingly. en-us Sat, 19 Aug 2017 00:00:00 +0530 Wed, 04 Apr 2018 06:39:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=358024 The court ruled in favor of the appellant, holding that the gross profit (GP) rate must be supported by positive evidence and should not be influenced by future years' data for earlier assessments. The orders of the CIT(A) and ITAT were quashed, allowing for reassessment if evidence supporting the GP rate for the relevant assessment year is provided. The appellant was granted an opportunity to be heard, and the appeal was disposed of accordingly. Case-Laws Income Tax Sat, 19 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=358024