https://www.taxtmi.com/caselaws?id=391256 The court allowed the appeal, remitting the matter for proper recomputation of tax liability. The Tribunal's decision to increase the profit rate to 12.5% was not justified as it failed to apply relevant judgments cited by the appellant, leading to the modification of the profit rate to 8%. The court emphasized the importance of following specific directions and previous judgments, directing the tax authorities to recalculate the tax liability accordingly. en-us Thu, 02 Jan 2020 00:00:00 +0530 Thu, 23 Jan 2020 14:32:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=391256 The court allowed the appeal, remitting the matter for proper recomputation of tax liability. The Tribunal's decision to increase the profit rate to 12.5% was not justified as it failed to apply relevant judgments cited by the appellant, leading to the modification of the profit rate to 8%. The court emphasized the importance of following specific directions and previous judgments, directing the tax authorities to recalculate the tax liability accordingly. Case-Laws Income Tax Thu, 02 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=391256