https://www.taxtmi.com/caselaws?id=31186 The Court upheld the ITAT's decision to partially allow the appeal of a brick manufacturing and selling business regarding discrepancies in unrecorded sales. The gross profit rate was reduced from 14% to 10%, resulting in an addition of Rs. 144000 for disclosed sales. The Court found the Tribunal's decision reasonable, considering past history and subsequent years' rates. The ITAT's restriction of unexplained investment to Rs. 5000 was also upheld. The Court dismissed the revenue's appeal, stating that the ITAT's decision was based on factual findings and no substantial question of law arose. en-us Tue, 19 Feb 2008 00:00:00 +0530 Sat, 17 Oct 2009 12:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=31186 The Court upheld the ITAT's decision to partially allow the appeal of a brick manufacturing and selling business regarding discrepancies in unrecorded sales. The gross profit rate was reduced from 14% to 10%, resulting in an addition of Rs. 144000 for disclosed sales. The Court found the Tribunal's decision reasonable, considering past history and subsequent years' rates. The ITAT's restriction of unexplained investment to Rs. 5000 was also upheld. The Court dismissed the revenue's appeal, stating that the ITAT's decision was based on factual findings and no substantial question of law arose. Case-Laws Income Tax Tue, 19 Feb 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=31186