https://www.taxtmi.com/caselaws?id=391450 The court upheld the addition of 2% gross profit by the assessing officer, as the appellant's declared profit was significantly lower than industry norms. The court dismissed the appeal, emphasizing that the appellant's acceptance of the addition during assessment proceedings precluded any challenge on appeal. The court also highlighted the absence of any evidence of coercion or discrepancies in the profit and loss account, supporting the assessing officer's decision. en-us Thu, 02 Jan 2020 00:00:00 +0530 Wed, 29 Jan 2020 06:51:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=391450 The court upheld the addition of 2% gross profit by the assessing officer, as the appellant's declared profit was significantly lower than industry norms. The court dismissed the appeal, emphasizing that the appellant's acceptance of the addition during assessment proceedings precluded any challenge on appeal. The court also highlighted the absence of any evidence of coercion or discrepancies in the profit and loss account, supporting the assessing officer's decision. Case-Laws Income Tax Thu, 02 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=391450