https://www.taxtmi.com/caselaws?id=61038 The Tribunal partly allowed both the revenue's appeal and the assessee's cross-objection. It directed the Assessing Officer to compute income with a net profit rate of 9% and to allow depreciation if claimed. The issue of interest on borrowed capital was referred back to the Bench for reconsideration to align premises and determine if interest should be included in the net profit estimation or allowed separately. en-us Tue, 10 Mar 1998 00:00:00 +0530 Mon, 10 Jan 2011 14:51:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61038 The Tribunal partly allowed both the revenue's appeal and the assessee's cross-objection. It directed the Assessing Officer to compute income with a net profit rate of 9% and to allow depreciation if claimed. The issue of interest on borrowed capital was referred back to the Bench for reconsideration to align premises and determine if interest should be included in the net profit estimation or allowed separately. Case-Laws Income Tax Tue, 10 Mar 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61038