NP rate determination - net result of trading operations of ...

CIT(A) Upholds 8% Profit Rate for Joint Venture; Additions Deleted Following Appellate Precedent u/s 143(3).

January 28, 2021

Case Laws Income Tax AT

NP rate determination - net result of trading operations of assessee JV - CIT(A) while upholding this exorbitant profit rate has observed that in the case of M/s KIEL the profit rate of 8% is applied in its assessment completed u/s 143(3) of the Act and failed to appreciate the fact that such a high rate of profit as applied was deleted in appellate proceedings in the case of M/s KIEL. - Additions deleted - AT

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NP rate determination - net result of trading operations of ...

CIT(A) Upholds 8% Profit Rate for Joint Venture; Additions Deleted Following Appellate Precedent u/s 143(3).

January 28, 2021

Case Laws Income Tax AT

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