https://www.taxtmi.com/caselaws?id=289515 The appellate tribunal partially allowed the appeal of the Hindu Undivided Family (HUF) trading metals, adjusting the profit rate for the addition of alleged bogus purchases to 5.5% instead of the initially estimated 12.5%. The tribunal considered the already declared profits and VAT paid by the assessee in reaching this decision. Other issues regarding interest under sections 234B and 234C of the Act were resolved, while the challenge against penalty proceedings under section 271(1)(c) was dismissed as premature. en-us Tue, 11 Sep 2018 00:00:00 +0530 Tue, 04 Aug 2020 20:13:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=289515 The appellate tribunal partially allowed the appeal of the Hindu Undivided Family (HUF) trading metals, adjusting the profit rate for the addition of alleged bogus purchases to 5.5% instead of the initially estimated 12.5%. The tribunal considered the already declared profits and VAT paid by the assessee in reaching this decision. Other issues regarding interest under sections 234B and 234C of the Act were resolved, while the challenge against penalty proceedings under section 271(1)(c) was dismissed as premature. Case-Laws Income Tax Tue, 11 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=289515