https://www.taxtmi.com/caselaws?id=417010 The Tribunal dismissed the Revenue's appeal for A.Y. 2012-13, allowed the assessee's appeal for A.Y. 2013-14, and partly allowed the appeal for A.Y. 2014-15. The Tribunal held that the AO's rejection of books and estimation of net profit at 8% of turnover was arbitrary, disallowed expenses were genuine, and rent expenses were not subject to TDS. The Tribunal confirmed the eligibility of the assessee to carry forward and set off losses from earlier years. en-us Thu, 23 Dec 2021 00:00:00 +0530 Thu, 13 Jan 2022 15:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=417010 The Tribunal dismissed the Revenue's appeal for A.Y. 2012-13, allowed the assessee's appeal for A.Y. 2013-14, and partly allowed the appeal for A.Y. 2014-15. The Tribunal held that the AO's rejection of books and estimation of net profit at 8% of turnover was arbitrary, disallowed expenses were genuine, and rent expenses were not subject to TDS. The Tribunal confirmed the eligibility of the assessee to carry forward and set off losses from earlier years. Case-Laws Income Tax Thu, 23 Dec 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=417010