https://www.taxtmi.com/caselaws?id=66553 The Tribunal upheld the annual profit recognition method, confirmed the 8% profit estimate, reinstated the disallowance of interest under Section 40A(8), and ruled out the levy of interest under Sections 139(8) and 217 for the assessment year 1981-82. The appeals of the assessee for assessment years 1982-83 and 1983-84 were dismissed, while the appeal for 1981-82 was partly allowed. The Revenue's appeals for all three years were allowed. en-us Mon, 12 Apr 1993 00:00:00 +0530 Mon, 28 Feb 2011 11:45:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66553 The Tribunal upheld the annual profit recognition method, confirmed the 8% profit estimate, reinstated the disallowance of interest under Section 40A(8), and ruled out the levy of interest under Sections 139(8) and 217 for the assessment year 1981-82. The appeals of the assessee for assessment years 1982-83 and 1983-84 were dismissed, while the appeal for 1981-82 was partly allowed. The Revenue's appeals for all three years were allowed. Case-Laws Income Tax Mon, 12 Apr 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66553