https://www.taxtmi.com/caselaws?id=396539 The Tribunal partially allowed the appeal, upholding the validity of the reassessment proceedings but directing adjustments in the estimation of gross profit and addressing double taxation concerns. The Tribunal instructed the AO to delete additions in the assessee's income already taxed in the partnership firm, reduce the profit ratio to 8%, and consider the turnover benefit from the partnership firm. The appeal was allowed on these grounds, while other issues were dismissed. en-us Wed, 20 May 2020 00:00:00 +0530 Wed, 07 Oct 2020 16:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=396539 The Tribunal partially allowed the appeal, upholding the validity of the reassessment proceedings but directing adjustments in the estimation of gross profit and addressing double taxation concerns. The Tribunal instructed the AO to delete additions in the assessee's income already taxed in the partnership firm, reduce the profit ratio to 8%, and consider the turnover benefit from the partnership firm. The appeal was allowed on these grounds, while other issues were dismissed. Case-Laws Income Tax Wed, 20 May 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=396539