https://www.taxtmi.com/caselaws?id=273811 The Tribunal upheld the deletion of various additions made by the Assessing Officer, including those related to unexplained construction expenses, cash expenditures violating Section 40A(3), suppressed sales, unexplained cash credits, investments in properties, cash deposits in benami accounts, cash found during search, and investments in a project. The Tribunal also directed the application of a net profit rate of 10% and allowed interest paid on borrowed capital as a business expense. The High Court affirmed the Tribunal's decisions, ruling in favor of the assessee and dismissing the appeals brought by the department. en-us Wed, 20 Sep 2017 00:00:00 +0530 Wed, 22 Aug 2018 07:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=273811 The Tribunal upheld the deletion of various additions made by the Assessing Officer, including those related to unexplained construction expenses, cash expenditures violating Section 40A(3), suppressed sales, unexplained cash credits, investments in properties, cash deposits in benami accounts, cash found during search, and investments in a project. The Tribunal also directed the application of a net profit rate of 10% and allowed interest paid on borrowed capital as a business expense. The High Court affirmed the Tribunal's decisions, ruling in favor of the assessee and dismissing the appeals brought by the department. Case-Laws Income Tax Wed, 20 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=273811