https://www.taxtmi.com/caselaws?id=281416 The Tribunal dismissed both the revenue and assessee's appeals, upholding the CIT(A)'s order to increase net profits by 1% instead of the 2% initially proposed by the Assessing Officer. The decision was based on historical net profit ratios of the assessee from previous assessment years, deeming the 1% adjustment reasonable. en-us Thu, 15 Dec 2016 00:00:00 +0530 Tue, 18 Jun 2019 21:30:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=281416 The Tribunal dismissed both the revenue and assessee's appeals, upholding the CIT(A)'s order to increase net profits by 1% instead of the 2% initially proposed by the Assessing Officer. The decision was based on historical net profit ratios of the assessee from previous assessment years, deeming the 1% adjustment reasonable. Case-Laws Income Tax Thu, 15 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=281416