https://www.taxtmi.com/caselaws?id=242536 The Tribunal partially allowed the assessee's appeal, reducing the estimated taxation on income from transport contract receipts from 12% to 8%. The Tribunal found the initial estimation unjust and arbitrary, considering discrepancies in the assessment process and the comparison of income from different business activities. Additionally, the disallowance of depreciation on trucks obtained after 30th September was dismissed as not pressed by the assessee during the proceedings. The Tribunal emphasized the importance of fair estimation methods and alignment with business realities in determining tax liabilities. en-us Tue, 11 Jun 2013 00:00:00 +0530 Fri, 17 Jan 2014 12:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=242536 The Tribunal partially allowed the assessee's appeal, reducing the estimated taxation on income from transport contract receipts from 12% to 8%. The Tribunal found the initial estimation unjust and arbitrary, considering discrepancies in the assessment process and the comparison of income from different business activities. Additionally, the disallowance of depreciation on trucks obtained after 30th September was dismissed as not pressed by the assessee during the proceedings. The Tribunal emphasized the importance of fair estimation methods and alignment with business realities in determining tax liabilities. Case-Laws Income Tax Tue, 11 Jun 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=242536