https://www.taxtmi.com/caselaws?id=393870 The High Court remitted the assessment of income based on GP rate back to the CIT(A) for fresh examination, ultimately directing the AO to adopt a 4% GP rate, partially allowing the appeal. The issue of disallowance of interest payable was not addressed by the Tribunal due to lack of specific grounds raised. Regarding the maintenance of manufacturing account and stock register, the CIT(A) dismissed the appeal emphasizing discrepancies in stock maintenance, leading to the Tribunal's directive to adopt a 4% GP rate based on the failure to provide necessary details. en-us Fri, 31 Jan 2020 00:00:00 +0530 Tue, 24 Mar 2020 12:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=393870 The High Court remitted the assessment of income based on GP rate back to the CIT(A) for fresh examination, ultimately directing the AO to adopt a 4% GP rate, partially allowing the appeal. The issue of disallowance of interest payable was not addressed by the Tribunal due to lack of specific grounds raised. Regarding the maintenance of manufacturing account and stock register, the CIT(A) dismissed the appeal emphasizing discrepancies in stock maintenance, leading to the Tribunal's directive to adopt a 4% GP rate based on the failure to provide necessary details. Case-Laws Income Tax Fri, 31 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=393870