https://www.taxtmi.com/caselaws?id=346268 The Income Tax Appellate Tribunal (ITAT) partially allowed the assessee's appeal by directing the adoption of a 3% net profit rate on the gross receipts excluding service tax for the assessment year 2009-10. This decision was made considering the failure of the assessee to produce books of accounts, emphasizing the unique circumstances of the case. The ITAT clarified that this rate was specific to the year in question and should not be applied as a precedent for future years. en-us Wed, 19 Apr 2017 00:00:00 +0530 Tue, 08 Aug 2017 08:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=346268 The Income Tax Appellate Tribunal (ITAT) partially allowed the assessee's appeal by directing the adoption of a 3% net profit rate on the gross receipts excluding service tax for the assessment year 2009-10. This decision was made considering the failure of the assessee to produce books of accounts, emphasizing the unique circumstances of the case. The ITAT clarified that this rate was specific to the year in question and should not be applied as a precedent for future years. Case-Laws Income Tax Wed, 19 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=346268