https://www.taxtmi.com/caselaws?id=181664 The Tribunal directed the Assessing Officer to estimate profit at 3% on the purchases made by the assessee for the assessment year 2004-05. The Tribunal upheld the deletion of a difference in license fees and the exclusion of certain business income, emphasizing the need to consider various factors in profit estimation and the exclusion of existing business income in determining the final taxable amount. The Tribunal partially allowed the assessee's appeal and dismissed the Revenue's appeal, highlighting the importance of a meticulous approach in profit estimation and assessment. en-us Thu, 30 Sep 2010 00:00:00 +0530 Wed, 06 Sep 2023 14:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=181664 The Tribunal directed the Assessing Officer to estimate profit at 3% on the purchases made by the assessee for the assessment year 2004-05. The Tribunal upheld the deletion of a difference in license fees and the exclusion of certain business income, emphasizing the need to consider various factors in profit estimation and the exclusion of existing business income in determining the final taxable amount. The Tribunal partially allowed the assessee's appeal and dismissed the Revenue's appeal, highlighting the importance of a meticulous approach in profit estimation and assessment. Case-Laws Income Tax Thu, 30 Sep 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=181664