https://www.taxtmi.com/caselaws?id=441932 The Tribunal dismissed the Revenue's appeals and partially allowed the Assessee's appeals, directing the Assessing Officer to estimate the net profit at 11% for AY 2013-14 and 14% for AY 2014-15, before remuneration and interest to partners. The Tribunal found errors in the estimation of net profit at 15% of turnover by the CIT(A) and the separate consideration of unexplained cash deposits, emphasizing that once the books of accounts are rejected, separate line-by-line additions should not be made except for profit estimation. en-us Thu, 30 Mar 2023 00:00:00 +0530 Mon, 21 Aug 2023 08:30:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=441932 The Tribunal dismissed the Revenue's appeals and partially allowed the Assessee's appeals, directing the Assessing Officer to estimate the net profit at 11% for AY 2013-14 and 14% for AY 2014-15, before remuneration and interest to partners. The Tribunal found errors in the estimation of net profit at 15% of turnover by the CIT(A) and the separate consideration of unexplained cash deposits, emphasizing that once the books of accounts are rejected, separate line-by-line additions should not be made except for profit estimation. Case-Laws Income Tax Thu, 30 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=441932