https://www.taxtmi.com/caselaws?id=437254 The Tribunal held that once the income is determined as a percentage of turnover and books of accounts are rejected, no further disallowance under Section 40A(3) is permissible. The addition under Section 40A(3) was deleted. Additionally, the commission rate on bogus sales turnover was reduced from 1% to 0.15%. The Revenue's cross appeals were dismissed as time-barred. The assessee's appeals were partly allowed, and the revenue's cross appeals were dismissed. en-us Mon, 24 Apr 2023 00:00:00 +0530 Tue, 02 May 2023 14:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=437254 The Tribunal held that once the income is determined as a percentage of turnover and books of accounts are rejected, no further disallowance under Section 40A(3) is permissible. The addition under Section 40A(3) was deleted. Additionally, the commission rate on bogus sales turnover was reduced from 1% to 0.15%. The Revenue's cross appeals were dismissed as time-barred. The assessee's appeals were partly allowed, and the revenue's cross appeals were dismissed. Case-Laws Income Tax Mon, 24 Apr 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=437254