https://www.taxtmi.com/caselaws?id=70646 The Tribunal upheld the departmental authorities' decision to estimate the appellant's profit annually, rejecting the argument that profits should only be recognized upon the completion of construction contracts. The Tribunal confirmed the AAC's reduced gross profit rate of 10% as fair and reasonable, thereby dismissing the appellant's appeal. en-us Wed, 21 Sep 1988 00:00:00 +0530 Mon, 18 Apr 2011 12:39:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70646 The Tribunal upheld the departmental authorities' decision to estimate the appellant's profit annually, rejecting the argument that profits should only be recognized upon the completion of construction contracts. The Tribunal confirmed the AAC's reduced gross profit rate of 10% as fair and reasonable, thereby dismissing the appellant's appeal. Case-Laws Income Tax Wed, 21 Sep 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70646