https://www.taxtmi.com/caselaws?id=333911 The Court ruled in favor of the appellant, emphasizing the importance of precise calculations, consistency in applying tax provisions, and consideration of all relevant factors in determining the gross profit rate. The judgment highlighted the necessity for decisions based on factual evidence and legal principles to ensure fairness and equity in tax assessments. The Court directed the Tribunal to reevaluate the gross profit rate within three months, emphasizing the need for concrete evidence rather than conjectures in estimations. en-us Fri, 21 Oct 2016 00:00:00 +0530 Thu, 27 Oct 2016 10:03:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=333911 The Court ruled in favor of the appellant, emphasizing the importance of precise calculations, consistency in applying tax provisions, and consideration of all relevant factors in determining the gross profit rate. The judgment highlighted the necessity for decisions based on factual evidence and legal principles to ensure fairness and equity in tax assessments. The Court directed the Tribunal to reevaluate the gross profit rate within three months, emphasizing the need for concrete evidence rather than conjectures in estimations. Case-Laws Income Tax Fri, 21 Oct 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=333911