https://www.taxtmi.com/caselaws?id=388012 The Tribunal upheld the rejection of book results and additions to income due to various infirmities and lack of substantiation by the assessee. It directed the Assessing Officer to recompute the addition based on a net profit ratio instead of a GP ratio, leading to the deletion of other additions. The disallowance of certain expenses was deemed unnecessary after recalculating based on the net profit ratio, resulting in partial relief granted to the assessee. The decision reflects a detailed analysis of financial aspects for a fair income assessment. en-us Tue, 13 Aug 2019 00:00:00 +0530 Wed, 06 Nov 2019 11:27:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=388012 The Tribunal upheld the rejection of book results and additions to income due to various infirmities and lack of substantiation by the assessee. It directed the Assessing Officer to recompute the addition based on a net profit ratio instead of a GP ratio, leading to the deletion of other additions. The disallowance of certain expenses was deemed unnecessary after recalculating based on the net profit ratio, resulting in partial relief granted to the assessee. The decision reflects a detailed analysis of financial aspects for a fair income assessment. Case-Laws Income Tax Tue, 13 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=388012