https://www.taxtmi.com/caselaws?id=427460 The Tribunal allowed the appeal of the assessee, finding that the CIT(A) erred in rejecting the books of account and estimating income without proper basis. The Tribunal directed the AO to restore the GP ratio to 9.8% as claimed by the assessee and delete the addition based on the 10.5% rate applied by the CIT(A). The judgment was pronounced on 6th September 2022. en-us Tue, 06 Sep 2022 00:00:00 +0530 Thu, 08 Sep 2022 18:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=427460 The Tribunal allowed the appeal of the assessee, finding that the CIT(A) erred in rejecting the books of account and estimating income without proper basis. The Tribunal directed the AO to restore the GP ratio to 9.8% as claimed by the assessee and delete the addition based on the 10.5% rate applied by the CIT(A). The judgment was pronounced on 6th September 2022. Case-Laws Income Tax Tue, 06 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=427460