https://www.taxtmi.com/caselaws?id=253660 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s order to estimate the income at 12.5% on direct contract works and 8% on sub-contract works. The Tribunal confirmed that no separate disallowances under Sections 40(a)(ia), 43B, or for depreciation were necessary, as the income estimation covered all statutory deductions and disallowances. The Tribunal emphasized that the estimation of income was consistent with the norms of the civil contract business and previous appellate decisions. en-us Wed, 26 Nov 2014 00:00:00 +0530 Mon, 01 Dec 2014 06:33:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=253660 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s order to estimate the income at 12.5% on direct contract works and 8% on sub-contract works. The Tribunal confirmed that no separate disallowances under Sections 40(a)(ia), 43B, or for depreciation were necessary, as the income estimation covered all statutory deductions and disallowances. The Tribunal emphasized that the estimation of income was consistent with the norms of the civil contract business and previous appellate decisions. Case-Laws Income Tax Wed, 26 Nov 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=253660