1992 (11) TMI 149 - AT - Income Tax

Summary

The Appellate Tribunal in Indore allowed the appeal of an assessee firm against the CIT(A) order for the assessment years 1985-86 and 1986-87. The Tribunal upheld the net profit rate of 12.5% applied by the tax authorities and allowed deductions under sections 80HH and 80-I for the relevant years. The appeals were partly allowed. (Case citation: 1992 (11) TMI 149 - ITAT INDORE)