https://www.taxtmi.com/caselaws?id=458844 The ITAT Delhi ruled on computation of income for a liaison office's Indian activities, addressing the gross profit rate determination. The tribunal held that once a gross profit rate is accepted by the Department in preceding/succeeding years, there is no jurisdiction to alter it without justification. The Assessing Officer was directed to apply 10% profit rate on DMRC sales, attributing 50% to the appellant. Since the assessee raised additional grounds departing from consistency rule, and CIT(A) failed to decide all grounds on merits, the case was remanded to AO for fresh determination after providing hearing opportunity to the assessee. en-us Thu, 30 May 2019 00:00:00 +0530 Mon, 18 Nov 2024 19:07:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=458844 The ITAT Delhi ruled on computation of income for a liaison office's Indian activities, addressing the gross profit rate determination. The tribunal held that once a gross profit rate is accepted by the Department in preceding/succeeding years, there is no jurisdiction to alter it without justification. The Assessing Officer was directed to apply 10% profit rate on DMRC sales, attributing 50% to the appellant. Since the assessee raised additional grounds departing from consistency rule, and CIT(A) failed to decide all grounds on merits, the case was remanded to AO for fresh determination after providing hearing opportunity to the assessee. Case-Laws Income Tax Thu, 30 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=458844