https://www.taxtmi.com/caselaws?id=388457 The Tribunal partly allowed the appeal by directing adjustments to the net profit rate, reducing it from 12% to 8% against the total turnover. The Tribunal upheld the addition of &8377; 4,50,000 as unexplained cash credit due to discrepancies in receipts. However, the appeal regarding the &8377; 1,06,400 addition was dismissed. The unexplained cash deposits of &8377; 83 lakhs were clarified by the assessee, leading to the deletion of this addition. The failure to produce complete books of accounts and documents resulted in adverse findings and additions to the income by the Assessing Officer. en-us Wed, 13 Nov 2019 00:00:00 +0530 Fri, 15 Nov 2019 16:11:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=388457 The Tribunal partly allowed the appeal by directing adjustments to the net profit rate, reducing it from 12% to 8% against the total turnover. The Tribunal upheld the addition of &8377; 4,50,000 as unexplained cash credit due to discrepancies in receipts. However, the appeal regarding the &8377; 1,06,400 addition was dismissed. The unexplained cash deposits of &8377; 83 lakhs were clarified by the assessee, leading to the deletion of this addition. The failure to produce complete books of accounts and documents resulted in adverse findings and additions to the income by the Assessing Officer. Case-Laws Income Tax Wed, 13 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=388457