https://www.taxtmi.com/caselaws?id=400253 The Tribunal partially allowed the appeals concerning the rejection of books of account and the application of net profit rates for the assessment years 2003-04, 2004-05, and 2008-09. The Tribunal directed a reduced profit rate of 2% instead of 8% based on the assessee's historical profit margins. In the jurisdictional issue for the AY 2006-07, the Tribunal directed a fresh assessment by the Karnal AO, emphasizing the consideration of the Delhi assessment order and the application of a 2% profit rate if book results are rejected. en-us Tue, 06 Oct 2020 00:00:00 +0530 Mon, 02 Nov 2020 14:47:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=400253 The Tribunal partially allowed the appeals concerning the rejection of books of account and the application of net profit rates for the assessment years 2003-04, 2004-05, and 2008-09. The Tribunal directed a reduced profit rate of 2% instead of 8% based on the assessee's historical profit margins. In the jurisdictional issue for the AY 2006-07, the Tribunal directed a fresh assessment by the Karnal AO, emphasizing the consideration of the Delhi assessment order and the application of a 2% profit rate if book results are rejected. Case-Laws Income Tax Tue, 06 Oct 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=400253