https://www.taxtmi.com/caselaws?id=264240 The Tribunal upheld the original assessment order in a case involving estimation of income from a real estate project. The A.O.'s estimation of profit, including consideration of unsold plots and land development expenditure, was deemed appropriate. The Tribunal ruled that specific disallowances under Section 40A(3) were not necessary when income is estimated. Additionally, the A.O.'s adoption of sale consideration for land sold was found reasonable, leading to the restoration of the original assessment order and allowing the appeal of the assessee. en-us Fri, 28 Aug 2015 00:00:00 +0530 Mon, 21 Sep 2015 10:54:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=264240 The Tribunal upheld the original assessment order in a case involving estimation of income from a real estate project. The A.O.'s estimation of profit, including consideration of unsold plots and land development expenditure, was deemed appropriate. The Tribunal ruled that specific disallowances under Section 40A(3) were not necessary when income is estimated. Additionally, the A.O.'s adoption of sale consideration for land sold was found reasonable, leading to the restoration of the original assessment order and allowing the appeal of the assessee. Case-Laws Income Tax Fri, 28 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=264240