https://www.taxtmi.com/caselaws?id=438997 The Tribunal dismissed the Revenue's appeal against the deletion of an addition on account of low gross profit amounting to Rs. 98,66,323 for Assessment Year 2013-14. Despite the AO's rejection of the books of the assessee, the Tribunal concurred with the ld.CIT(A) that the addition lacked a proper basis and was adhoc, attributing the fall in GP ratio to business circumstances. The appeal outcome favored the assessee, with the Tribunal upholding the decision to delete the addition, as pronounced in Ahmedabad on 9th June 2023. en-us Fri, 09 Jun 2023 00:00:00 +0530 Fri, 20 Feb 2026 17:21:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=438997 The Tribunal dismissed the Revenue's appeal against the deletion of an addition on account of low gross profit amounting to Rs. 98,66,323 for Assessment Year 2013-14. Despite the AO's rejection of the books of the assessee, the Tribunal concurred with the ld.CIT(A) that the addition lacked a proper basis and was adhoc, attributing the fall in GP ratio to business circumstances. The appeal outcome favored the assessee, with the Tribunal upholding the decision to delete the addition, as pronounced in Ahmedabad on 9th June 2023. Case-Laws Income Tax Fri, 09 Jun 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=438997