TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
Use comma for multiple locations.
---------------- For section wise search only -----------------
Accuracy Level ~ 90%
of 
Press 'Enter' after typing page number.
of Press 'Enter' after typing page number.
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of Press 'Enter' after typing page number.
of Press 'Enter' after typing page number.
All Case Laws
of Press 'Enter' after typing page number.
of Press 'Enter' after typing page number.
All Case Laws
Join Channel
Note
Bookmark
Share
Don't have an account? Register Here
of Press 'Enter' after typing page number.
Issues: Whether the direction to adopt a profit rate of 5% was to be applied on the gross turnover or the total turnover, and whether the profit referred to net profit.
Analysis: The earlier direction estimating profit at 5% was clarified to relate to the gross turnover and, for simplicity, to the total turnover. It was further clarified that the profit meant net profit.
Conclusion: The profit is to be estimated at 5% of the total turnover, and the profit so determined means net profit.
TaxTMI 
