https://www.taxtmi.com/caselaws?id=341647 The High Court upheld the ITAT's decision regarding the application of net profit rates for income estimation and sales of country liquor by the assessee. The Court found the net profit rate method acceptable for income estimation, supported by comparable cases, and justified the use of a specific rate for liquor sales. The Court dismissed the revenue's appeal, ruling in favor of the assessee, as the estimation method was deemed reasonable and based on valid evidence and comparable cases. The Court maintained the Tribunal's order without interference. en-us Thu, 30 Mar 2017 00:00:00 +0530 Fri, 14 Apr 2017 06:59:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=341647 The High Court upheld the ITAT's decision regarding the application of net profit rates for income estimation and sales of country liquor by the assessee. The Court found the net profit rate method acceptable for income estimation, supported by comparable cases, and justified the use of a specific rate for liquor sales. The Court dismissed the revenue's appeal, ruling in favor of the assessee, as the estimation method was deemed reasonable and based on valid evidence and comparable cases. The Court maintained the Tribunal's order without interference. Case-Laws Income Tax Thu, 30 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=341647