https://www.taxtmi.com/caselaws?id=370437 The ITAT directed a reduced disallowance rate of 1.11% for expenses related to freight, Trip Bhatta, and diesel, emphasizing context-specific assessments over blanket application of past rates. The ITAT upheld the CIT(A)'s decision to reduce the ad-hoc disallowance rate from 3.33% to 1.11%, highlighting the improved GP ratio and the absence of statutory mandates for fixed rates. The judgment promotes fairness and reasonableness in tax adjudications by considering the business's changing circumstances and financial ratios. en-us Mon, 15 Oct 2018 00:00:00 +0530 Sat, 17 Nov 2018 08:00:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=370437 The ITAT directed a reduced disallowance rate of 1.11% for expenses related to freight, Trip Bhatta, and diesel, emphasizing context-specific assessments over blanket application of past rates. The ITAT upheld the CIT(A)'s decision to reduce the ad-hoc disallowance rate from 3.33% to 1.11%, highlighting the improved GP ratio and the absence of statutory mandates for fixed rates. The judgment promotes fairness and reasonableness in tax adjudications by considering the business's changing circumstances and financial ratios. Case-Laws Income Tax Mon, 15 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=370437