https://www.taxtmi.com/caselaws?id=445434 The Tribunal allowed the appeal of the assessee, overturning the decision of the ld. CIT(A) and instructing the Assessing Officer to remove the addition to the net profit rate. The Tribunal found that the decline in net profit was adequately justified by the assessee, and relying solely on a comparison with the previous year's profit was inappropriate. The judgment was delivered in open court on 20.07.2023. en-us Thu, 20 Jul 2023 00:00:00 +0530 Wed, 08 Nov 2023 09:10:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=445434 The Tribunal allowed the appeal of the assessee, overturning the decision of the ld. CIT(A) and instructing the Assessing Officer to remove the addition to the net profit rate. The Tribunal found that the decline in net profit was adequately justified by the assessee, and relying solely on a comparison with the previous year's profit was inappropriate. The judgment was delivered in open court on 20.07.2023. Case-Laws Income Tax Thu, 20 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=445434