https://www.taxtmi.com/caselaws?id=216518 The Tribunal upheld the first appellate order, dismissing the appeals and emphasizing the importance of consistency in estimating income. The CIT(A)'s decision to apply a net rate of 2.24% on gross receipts from specific companies for land development work was supported based on past assessments and precedents within the group companies. The additions made by the Assessing Officer were deleted or reduced, including the 4% commission on debit and credit entries and the TDS amount claimed, as the CIT(A) deemed them in line with the real income of the assessee. The decision underscored the significance of past precedents in determining income under similar circumstances. en-us Tue, 31 Jul 2012 00:00:00 +0530 Wed, 12 Sep 2012 18:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=216518 The Tribunal upheld the first appellate order, dismissing the appeals and emphasizing the importance of consistency in estimating income. The CIT(A)'s decision to apply a net rate of 2.24% on gross receipts from specific companies for land development work was supported based on past assessments and precedents within the group companies. The additions made by the Assessing Officer were deleted or reduced, including the 4% commission on debit and credit entries and the TDS amount claimed, as the CIT(A) deemed them in line with the real income of the assessee. The decision underscored the significance of past precedents in determining income under similar circumstances. Case-Laws Income Tax Tue, 31 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=216518