https://www.taxtmi.com/caselaws?id=243096 The Tribunal partially allowed the appeal, estimating the net profit at 2% of gross receipts after considering various factors, including the nature of work and comparable cases. It upheld the appellant's position on compliance with the EPF Act and wage rates justification, rejecting the Assessing Officer's decision to reject the books of accounts due to lack of evidence proving unreliability. The Tribunal's judgment provided a detailed analysis of the assessment of gross profit rate, rejection of books of accounts, compliance with EPF Act, wage rates justification, and estimation of net profit before reaching its decision. en-us Wed, 31 Jul 2013 00:00:00 +0530 Sat, 25 Jan 2014 20:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=243096 The Tribunal partially allowed the appeal, estimating the net profit at 2% of gross receipts after considering various factors, including the nature of work and comparable cases. It upheld the appellant's position on compliance with the EPF Act and wage rates justification, rejecting the Assessing Officer's decision to reject the books of accounts due to lack of evidence proving unreliability. The Tribunal's judgment provided a detailed analysis of the assessment of gross profit rate, rejection of books of accounts, compliance with EPF Act, wage rates justification, and estimation of net profit before reaching its decision. Case-Laws Income Tax Wed, 31 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=243096