https://www.taxtmi.com/caselaws?id=369632 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decisions on all three issues. The Tribunal found that the assessee adequately explained the capital introduction, no further specific disallowances were warranted once the GP rate was estimated, and the CIT(A)'s 1% GP rate estimation was justified based on the assessee's past performance and lack of contrary evidence from the AO. en-us Mon, 29 Oct 2018 00:00:00 +0530 Wed, 31 Oct 2018 10:44:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=369632 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decisions on all three issues. The Tribunal found that the assessee adequately explained the capital introduction, no further specific disallowances were warranted once the GP rate was estimated, and the CIT(A)'s 1% GP rate estimation was justified based on the assessee's past performance and lack of contrary evidence from the AO. Case-Laws Income Tax Mon, 29 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=369632