https://www.taxtmi.com/caselaws?id=442483 The Tribunal partially allowed the appellant's grounds by directing the Assessing Officer to estimate profit at 6% on gross turnover instead of the initial 8% based on cash deposits. The appellant's unintentional non-compliance with notices led to the dismissal of the case ex-parte, but the Tribunal considered the circumstances and made the adjustment in profit estimation. The challenge against the levy of interest under Section 234B was partially successful, with the Tribunal restricting the charging of interest based on the revised profit estimation. The judgment was delivered by Hon'ble Judicial Member Shri Duvvuru Rl Reddy. en-us Tue, 29 Aug 2023 00:00:00 +0530 Sat, 02 Sep 2023 07:51:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=442483 The Tribunal partially allowed the appellant's grounds by directing the Assessing Officer to estimate profit at 6% on gross turnover instead of the initial 8% based on cash deposits. The appellant's unintentional non-compliance with notices led to the dismissal of the case ex-parte, but the Tribunal considered the circumstances and made the adjustment in profit estimation. The challenge against the levy of interest under Section 234B was partially successful, with the Tribunal restricting the charging of interest based on the revised profit estimation. The judgment was delivered by Hon'ble Judicial Member Shri Duvvuru Rl Reddy. Case-Laws Income Tax Tue, 29 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=442483