https://www.taxtmi.com/caselaws?id=191953 The Tribunal partly allowed the revenue's appeal, emphasizing the need to consider case-specific factors for estimating net profit. It directed to adopt 10% net profit on direct works contracts and 6% on sub contract works due to the firm's large turnover and lack of verifiable documentation. The decision highlighted the importance of assessing income accurately based on the specific circumstances of each case, rather than relying solely on general precedents. en-us Fri, 22 Jul 2016 00:00:00 +0530 Fri, 05 May 2017 10:47:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=191953 The Tribunal partly allowed the revenue's appeal, emphasizing the need to consider case-specific factors for estimating net profit. It directed to adopt 10% net profit on direct works contracts and 6% on sub contract works due to the firm's large turnover and lack of verifiable documentation. The decision highlighted the importance of assessing income accurately based on the specific circumstances of each case, rather than relying solely on general precedents. Case-Laws Income Tax Fri, 22 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=191953