https://www.taxtmi.com/caselaws?id=299931 The Tribunal partially allowed the appeals of the assessee against the CIT(A) order for the assessment years 2004-05 & 05-06. The ground challenging the order passed under section 153A was dismissed. The additions for suppressed sales were upheld, and the dispute over on money received resulted in a partial addition based on a reasonable presumption. The challenge to the addition of project expenses was unsuccessful due to lack of supporting evidence. The Tribunal settled on an 8% net profit ratio for on money taxation, citing precedents. The project expense addition was confirmed, and relief was granted on interest charges. en-us Fri, 31 Mar 2017 00:00:00 +0530 Thu, 06 Jan 2022 07:10:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=299931 The Tribunal partially allowed the appeals of the assessee against the CIT(A) order for the assessment years 2004-05 & 05-06. The ground challenging the order passed under section 153A was dismissed. The additions for suppressed sales were upheld, and the dispute over on money received resulted in a partial addition based on a reasonable presumption. The challenge to the addition of project expenses was unsuccessful due to lack of supporting evidence. The Tribunal settled on an 8% net profit ratio for on money taxation, citing precedents. The project expense addition was confirmed, and relief was granted on interest charges. Case-Laws Income Tax Fri, 31 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=299931