https://www.taxtmi.com/caselaws?id=201995 The High Court set aside previous orders in a tax dispute related to profit estimation from construction activity at Land Mark Apartments. The Court found the 8% profit estimation lacked detailed reasoning and directed reassessment by the Commissioner based on investment sources and expenditures. Additionally, the Court criticized the Tribunal for not independently analyzing the controversy and directed a fresh order considering all evidence. The decision underscored the necessity of thorough reasoning and consideration of all factors in profit assessment, leading to a reassessment by the Commissioner. en-us Mon, 16 Mar 2009 00:00:00 +0530 Wed, 26 Dec 2012 18:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=201995 The High Court set aside previous orders in a tax dispute related to profit estimation from construction activity at Land Mark Apartments. The Court found the 8% profit estimation lacked detailed reasoning and directed reassessment by the Commissioner based on investment sources and expenditures. Additionally, the Court criticized the Tribunal for not independently analyzing the controversy and directed a fresh order considering all evidence. The decision underscored the necessity of thorough reasoning and consideration of all factors in profit assessment, leading to a reassessment by the Commissioner. Case-Laws Income Tax Mon, 16 Mar 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=201995