https://www.taxtmi.com/caselaws?id=445848 The Tribunal partially allowed the appeal, adjusting the net profit rate from 8% to 6% due to insufficient evidence from both parties. It directed the deletion of the addition related to specified notes deposit, concluding these were part of cash sales and should not be taxed separately. The Tribunal acknowledged the appellant's claim of inadequate opportunities during faceless assessment but based its decision on available information. The judgment was delivered by Shri K. Narasimha Chary, Judicial Member of the Appellate Tribunal ITAT Hyderabad. en-us Wed, 08 Nov 2023 00:00:00 +0530 Mon, 20 Nov 2023 21:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=445848 The Tribunal partially allowed the appeal, adjusting the net profit rate from 8% to 6% due to insufficient evidence from both parties. It directed the deletion of the addition related to specified notes deposit, concluding these were part of cash sales and should not be taxed separately. The Tribunal acknowledged the appellant's claim of inadequate opportunities during faceless assessment but based its decision on available information. The judgment was delivered by Shri K. Narasimha Chary, Judicial Member of the Appellate Tribunal ITAT Hyderabad. Case-Laws Income Tax Wed, 08 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=445848