https://www.taxtmi.com/caselaws?id=191698 The Tribunal partly allowed the assessee's appeal by reducing the estimated net profit rate and deeming the invocation of section 144 unjustified due to the assessee providing information, albeit unsatisfactorily. The rejection of books of accounts under section 145(3) was upheld, and the net profit estimation was adjusted from 8% to 6% of contract receipts. The limitation of assessment issue was not pursued by the assessee, and the interest levy matter was considered consequential and required no further review. The decision was rendered on May 13, 2011. en-us Fri, 13 May 2011 00:00:00 +0530 Thu, 13 Apr 2017 15:40:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=191698 The Tribunal partly allowed the assessee's appeal by reducing the estimated net profit rate and deeming the invocation of section 144 unjustified due to the assessee providing information, albeit unsatisfactorily. The rejection of books of accounts under section 145(3) was upheld, and the net profit estimation was adjusted from 8% to 6% of contract receipts. The limitation of assessment issue was not pursued by the assessee, and the interest levy matter was considered consequential and required no further review. The decision was rendered on May 13, 2011. Case-Laws Income Tax Fri, 13 May 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=191698