https://www.taxtmi.com/caselaws?id=60920 The Tribunal ruled that the 40% profit rate under Section 44AC should not be applied to sales under the L-14 license as they were subsequent sales from the L-13 licensee. The CIT(A)'s orders were overturned, and the Assessing Officer's additions were reinstated. The Tribunal did not address the specific additions made by the AO, focusing solely on the incorrect application of the 40% profit rate under Section 44AC. en-us Thu, 31 Aug 1995 00:00:00 +0530 Sat, 08 Jan 2011 16:16:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60920 The Tribunal ruled that the 40% profit rate under Section 44AC should not be applied to sales under the L-14 license as they were subsequent sales from the L-13 licensee. The CIT(A)'s orders were overturned, and the Assessing Officer's additions were reinstated. The Tribunal did not address the specific additions made by the AO, focusing solely on the incorrect application of the 40% profit rate under Section 44AC. Case-Laws Income Tax Thu, 31 Aug 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60920