https://www.taxtmi.com/caselaws?id=284322 The Tribunal upheld the CIT(A)'s decision to apply a net profit rate of 11.5% for restricting the disallowance of expenses and deleted the addition under Section 40(a)(ia) for non-deduction of TDS. The Tribunal emphasized that once the books of accounts are rejected, income should be estimated, and specific disallowances are not warranted. The decision aligned with previous rulings and ensured a fair and consistent application of the law, resulting in the dismissal of the Revenue's appeal. en-us Thu, 18 Jan 2018 00:00:00 +0530 Tue, 12 Nov 2019 15:16:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=284322 The Tribunal upheld the CIT(A)'s decision to apply a net profit rate of 11.5% for restricting the disallowance of expenses and deleted the addition under Section 40(a)(ia) for non-deduction of TDS. The Tribunal emphasized that once the books of accounts are rejected, income should be estimated, and specific disallowances are not warranted. The decision aligned with previous rulings and ensured a fair and consistent application of the law, resulting in the dismissal of the Revenue's appeal. Case-Laws Income Tax Thu, 18 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=284322