https://www.taxtmi.com/caselaws?id=201981 The High Court upheld the Income-tax Appellate Tribunal's decision to estimate the gross profit at 8% and upheld the ad hoc addition of Rs. 6 lakhs, rejecting the appellant's claims of coercion in the husband's statement. The Tribunal's decision was deemed valid, considering market conditions and the appellant's business circumstances. The appellant's appeal against the additions made by the Assessing Officer was dismissed, with the High Court finding no reason to interfere with the Tribunal's decision, ultimately ruling in favor of the Revenue. en-us Wed, 17 Mar 2010 00:00:00 +0530 Sat, 29 Dec 2012 12:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=201981 The High Court upheld the Income-tax Appellate Tribunal's decision to estimate the gross profit at 8% and upheld the ad hoc addition of Rs. 6 lakhs, rejecting the appellant's claims of coercion in the husband's statement. The Tribunal's decision was deemed valid, considering market conditions and the appellant's business circumstances. The appellant's appeal against the additions made by the Assessing Officer was dismissed, with the High Court finding no reason to interfere with the Tribunal's decision, ultimately ruling in favor of the Revenue. Case-Laws Income Tax Wed, 17 Mar 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=201981