https://www.taxtmi.com/caselaws?id=171035 The ITAT Mumbai upheld the CIT(A)'s order, dismissing the Revenue's appeal and affirming the 3% income estimation for the assessee. The decision was based on the change in business activity from stockist to consignee of vehicles, resulting in a lower profit margin and reduced risk. The CIT(A) justified the lower estimation by analyzing the financial data and emphasizing the need for reasonable assessments in best judgment scenarios. en-us Thu, 11 Dec 2014 00:00:00 +0530 Tue, 17 Mar 2015 11:14:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=171035 The ITAT Mumbai upheld the CIT(A)'s order, dismissing the Revenue's appeal and affirming the 3% income estimation for the assessee. The decision was based on the change in business activity from stockist to consignee of vehicles, resulting in a lower profit margin and reduced risk. The CIT(A) justified the lower estimation by analyzing the financial data and emphasizing the need for reasonable assessments in best judgment scenarios. Case-Laws Income Tax Thu, 11 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=171035