https://www.taxtmi.com/caselaws?id=183268 The Tribunal partially allowed the assessee's appeal against the CIT (A) order, directing the assessing officer to estimate income at 8% on main contract receipts and 5% on sub-contract receipts, while reducing departmental recoveries from gross receipts. The Tribunal disagreed with the CIT (A)'s application of sec. 145 of the IT Act and the levy of interest under sec. 234B, providing specific guidelines for income estimation. en-us Fri, 14 Oct 2011 00:00:00 +0530 Fri, 03 Jun 2016 11:50:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=183268 The Tribunal partially allowed the assessee's appeal against the CIT (A) order, directing the assessing officer to estimate income at 8% on main contract receipts and 5% on sub-contract receipts, while reducing departmental recoveries from gross receipts. The Tribunal disagreed with the CIT (A)'s application of sec. 145 of the IT Act and the levy of interest under sec. 234B, providing specific guidelines for income estimation. Case-Laws Income Tax Fri, 14 Oct 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=183268