https://www.taxtmi.com/caselaws?id=436039 The High Court allowed the appeal by condoning the delay in filing it under Section 260A of the Income Tax Act, 1961. However, the appeal was dismissed regarding the reduction of Net Profit Percentage from 8% to 0.6% by the Income Tax Appellate Tribunal. The Court found no substantial question of law, noting the consistency in the assessee's Net Profit percentages in previous years and the absence of errors in the audited accounts. Consequently, the High Court upheld the Tribunal's decision on the Net Profit Percentage issue, leading to the dismissal of the appeal. en-us Mon, 28 Nov 2022 00:00:00 +0530 Tue, 18 Apr 2023 11:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=436039 The High Court allowed the appeal by condoning the delay in filing it under Section 260A of the Income Tax Act, 1961. However, the appeal was dismissed regarding the reduction of Net Profit Percentage from 8% to 0.6% by the Income Tax Appellate Tribunal. The Court found no substantial question of law, noting the consistency in the assessee's Net Profit percentages in previous years and the absence of errors in the audited accounts. Consequently, the High Court upheld the Tribunal's decision on the Net Profit Percentage issue, leading to the dismissal of the appeal. Case-Laws Income Tax Mon, 28 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=436039