https://www.taxtmi.com/caselaws?id=277589 The Tribunal allowed the appeal, deleting the additions made by the CIT(A) for the assessment year 2004-05. The Tribunal found that the CIT(A) was not justified in sustaining the addition of Rs. 1,32,000 based on gross profit rate, as additions should be made on the net profit rate. Consequently, the Tribunal deleted this addition and also removed the Rs. 1,00,000 addition for undisclosed investment. The appeal of the assessee was allowed, and the impugned additions were deleted. en-us Mon, 23 May 2016 00:00:00 +0530 Thu, 13 Dec 2018 06:00:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=277589 The Tribunal allowed the appeal, deleting the additions made by the CIT(A) for the assessment year 2004-05. The Tribunal found that the CIT(A) was not justified in sustaining the addition of Rs. 1,32,000 based on gross profit rate, as additions should be made on the net profit rate. Consequently, the Tribunal deleted this addition and also removed the Rs. 1,00,000 addition for undisclosed investment. The appeal of the assessee was allowed, and the impugned additions were deleted. Case-Laws Income Tax Mon, 23 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=277589