https://www.taxtmi.com/caselaws?id=16985 The High Court upheld the Tribunal's decision in an income-tax case involving the interpretation of section 69B of the Income-tax Act, 1961. The Court found that the Assessing Officer's application of a varying gross profit rate to determine undisclosed income was improper. It emphasized that a consistent average gross profit rate should be applied and that section 69B can only be invoked under specific conditions, which were not met in this case. The Court ruled in favor of the assessee, concluding that the Assessing Officer's methodology was flawed and that section 69B was not justified in this scenario. en-us Wed, 08 May 1996 00:00:00 +0530 Mon, 14 Sep 2009 13:48:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16985 The High Court upheld the Tribunal's decision in an income-tax case involving the interpretation of section 69B of the Income-tax Act, 1961. The Court found that the Assessing Officer's application of a varying gross profit rate to determine undisclosed income was improper. It emphasized that a consistent average gross profit rate should be applied and that section 69B can only be invoked under specific conditions, which were not met in this case. The Court ruled in favor of the assessee, concluding that the Assessing Officer's methodology was flawed and that section 69B was not justified in this scenario. Case-Laws Income Tax Wed, 08 May 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16985