https://www.taxtmi.com/caselaws?id=278360 The Tribunal partly allowed the Revenue's appeal by modifying the net profit rate to 5% of turnover and removing disallowances on depreciation and interest. The addition related to the secured loan under section 68 was not sustained due to lack of supporting evidence. The Tribunal disagreed with the Commissioner of Income Tax (Appeals)'s modification of the net profit rate and considered the risk involved in determining the rate. en-us Wed, 28 Mar 2018 00:00:00 +0530 Tue, 29 Jan 2019 07:11:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=278360 The Tribunal partly allowed the Revenue's appeal by modifying the net profit rate to 5% of turnover and removing disallowances on depreciation and interest. The addition related to the secured loan under section 68 was not sustained due to lack of supporting evidence. The Tribunal disagreed with the Commissioner of Income Tax (Appeals)'s modification of the net profit rate and considered the risk involved in determining the rate. Case-Laws Income Tax Wed, 28 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=278360