https://www.taxtmi.com/caselaws?id=394836 The Tribunal partially allowed the appeal, directing the AO to re-examine the addition of Rs. 57 lakhs related to share application money from Rama Ply Board India Private Limited. Additionally, the AO was instructed to recalculate the addition by applying a net profit rate of 3% on the turnover plus the difference in stocks. The assessee was granted an opportunity to clarify the nature of transactions for further assessment. en-us Tue, 18 Feb 2020 00:00:00 +0530 Mon, 27 Apr 2020 10:49:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=394836 The Tribunal partially allowed the appeal, directing the AO to re-examine the addition of Rs. 57 lakhs related to share application money from Rama Ply Board India Private Limited. Additionally, the AO was instructed to recalculate the addition by applying a net profit rate of 3% on the turnover plus the difference in stocks. The assessee was granted an opportunity to clarify the nature of transactions for further assessment. Case-Laws Income Tax Tue, 18 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=394836