https://www.taxtmi.com/caselaws?id=71126 The sub-contract agreement was treated as genuine because the contractor's limited means and lack of proved experience created suspicion only, not positive evidence to disprove the arrangement. The record also showed no prior call for further evidence of work executed, and the Department's acceptance of the same agreement in connected proceedings supported consistency in treatment. On those facts, rejection of the agreement and estimation of net profit at 8 to 10 per cent was unjustified, and income was directed to be assessed at 4 per cent of gross receipts. en-us Fri, 09 Feb 1979 00:00:00 +0530 Thu, 21 Apr 2011 15:05:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71126 The sub-contract agreement was treated as genuine because the contractor's limited means and lack of proved experience created suspicion only, not positive evidence to disprove the arrangement. The record also showed no prior call for further evidence of work executed, and the Department's acceptance of the same agreement in connected proceedings supported consistency in treatment. On those facts, rejection of the agreement and estimation of net profit at 8 to 10 per cent was unjustified, and income was directed to be assessed at 4 per cent of gross receipts. Case-Laws Income Tax Fri, 09 Feb 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71126