https://www.taxtmi.com/caselaws?id=386301 The Tribunal upheld the CIT(A)'s decision, dismissing the revenue's appeal for AY 2010-11 and AY 2011-12. The rejection of books of accounts by the AO was deemed unjustified as the assessee maintained audited books without discrepancies. The GP rate estimation of 18% lacked basis, leading to the deletion of GP additions. The Tribunal found the nature of the business made detailed reporting impractical. Both revenue appeals were dismissed, confirming the deletion of GP additions by the CIT(A). en-us Mon, 16 Sep 2019 00:00:00 +0530 Thu, 26 Sep 2019 06:57:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=386301 The Tribunal upheld the CIT(A)'s decision, dismissing the revenue's appeal for AY 2010-11 and AY 2011-12. The rejection of books of accounts by the AO was deemed unjustified as the assessee maintained audited books without discrepancies. The GP rate estimation of 18% lacked basis, leading to the deletion of GP additions. The Tribunal found the nature of the business made detailed reporting impractical. Both revenue appeals were dismissed, confirming the deletion of GP additions by the CIT(A). Case-Laws Income Tax Mon, 16 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=386301