https://www.taxtmi.com/caselaws?id=363859 The Tribunal allowed both appeals, remitting the case to the AO for re-adjudication. The rejection of books for construction activities was upheld, while rejection for trading activities was disagreed with. The net profit rate for construction activities was reduced, and the matter was sent back to the AO for further examination. The AO's additions on alleged bogus purchases and AIR data mismatch were not specifically addressed but are subject to re-examination. The Tribunal stressed the need for proper documentation and substantiation of financial results by the assessee. en-us Tue, 10 Jul 2018 00:00:00 +0530 Thu, 19 Jul 2018 06:09:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=363859 The Tribunal allowed both appeals, remitting the case to the AO for re-adjudication. The rejection of books for construction activities was upheld, while rejection for trading activities was disagreed with. The net profit rate for construction activities was reduced, and the matter was sent back to the AO for further examination. The AO's additions on alleged bogus purchases and AIR data mismatch were not specifically addressed but are subject to re-examination. The Tribunal stressed the need for proper documentation and substantiation of financial results by the assessee. Case-Laws Income Tax Tue, 10 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=363859