https://www.taxtmi.com/caselaws?id=361068 The Tribunal partly allowed the appeals, ruling in favor of the assessee regarding the application of gross profit rate and the additions related to purchases from Rourkela Steel Plant. The legal issues raised by the assessee were dismissed as not pressed. The Tribunal directed the Assessing Officer to apply a gross profit rate of 26.48% instead of 41.05% based on precedent. The additions made on account of alleged purchases from Rourkela Steel Plant were deleted. The judgment was pronounced on 21/05/2018. en-us Mon, 21 May 2018 00:00:00 +0530 Tue, 29 May 2018 09:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=361068 The Tribunal partly allowed the appeals, ruling in favor of the assessee regarding the application of gross profit rate and the additions related to purchases from Rourkela Steel Plant. The legal issues raised by the assessee were dismissed as not pressed. The Tribunal directed the Assessing Officer to apply a gross profit rate of 26.48% instead of 41.05% based on precedent. The additions made on account of alleged purchases from Rourkela Steel Plant were deleted. The judgment was pronounced on 21/05/2018. Case-Laws Income Tax Mon, 21 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=361068