https://www.taxtmi.com/caselaws?id=424164 The Tribunal partially allowed the appeal, directing the Assessing Officer to estimate the net profit at 0.25% of the suppressed consignment sales turnover, deviating from the initial 0.45% estimation. The rejection of books of account was upheld, but the net profit percentage was revised based on fairness and comparison with other entities. Consequently, the income for the assessment year was to be recomputed at the revised net profit rate. en-us Fri, 22 Apr 2022 00:00:00 +0530 Thu, 23 Jun 2022 09:24:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424164 The Tribunal partially allowed the appeal, directing the Assessing Officer to estimate the net profit at 0.25% of the suppressed consignment sales turnover, deviating from the initial 0.45% estimation. The rejection of books of account was upheld, but the net profit percentage was revised based on fairness and comparison with other entities. Consequently, the income for the assessment year was to be recomputed at the revised net profit rate. Case-Laws Income Tax Fri, 22 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424164