https://www.taxtmi.com/caselaws?id=251401 The Court dismissed the appeals challenging the adoption of a 20% gross profit rate by the Tribunal for Assessment Years 2005-06 and 2006-07. The Tribunal's decision was upheld as reasonable, considering the rejection of books of accounts and the need for a fair profit estimate. The Court found no substantial question of law in the Tribunal's decision and refrained from interfering, emphasizing the factual nature of the gross profit estimation based on available evidence. en-us Tue, 19 Aug 2014 00:00:00 +0530 Sat, 13 Sep 2014 11:29:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=251401 The Court dismissed the appeals challenging the adoption of a 20% gross profit rate by the Tribunal for Assessment Years 2005-06 and 2006-07. The Tribunal's decision was upheld as reasonable, considering the rejection of books of accounts and the need for a fair profit estimate. The Court found no substantial question of law in the Tribunal's decision and refrained from interfering, emphasizing the factual nature of the gross profit estimation based on available evidence. Case-Laws Income Tax Tue, 19 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=251401