https://www.taxtmi.com/caselaws?id=66349 The Tribunal partly allowed the appeal. It upheld the inclusion of Rs. 1,00,000 in the turnover for estimating net profit but directed the ITO to use 10% for estimation. The interest amount of Rs. 75,205 was excluded from taxation as it was considered ex gratia. However, the Rs. 10,000 compensation for breach of contract was upheld as taxable income. en-us Wed, 28 Feb 1990 00:00:00 +0530 Wed, 23 Feb 2011 16:59:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66349 The Tribunal partly allowed the appeal. It upheld the inclusion of Rs. 1,00,000 in the turnover for estimating net profit but directed the ITO to use 10% for estimation. The interest amount of Rs. 75,205 was excluded from taxation as it was considered ex gratia. However, the Rs. 10,000 compensation for breach of contract was upheld as taxable income. Case-Laws Income Tax Wed, 28 Feb 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66349