https://www.taxtmi.com/caselaws?id=350838 The Revenue's appeals challenging protective additions made by the Assessing Officer for the A.Y 2009-10 were dismissed. The Tribunal upheld the deletion of protective additions, ruling that withdrawals by the principal contractor could not be presumed as business expenditure. Income estimation for sub-contractors was set at 5% of gross receipts, while main contractors were estimated at 8%, following the High Court's precedent. The Tribunal emphasized that no additional disallowances could be made when income is estimated. The Tribunal directed verification of contractor status to ensure accurate income estimation. Appeals by the Revenue were dismissed, and decisions aligned with High Court principles and previous rulings. en-us Fri, 10 Nov 2017 00:00:00 +0530 Tue, 14 Nov 2017 04:40:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=350838 The Revenue's appeals challenging protective additions made by the Assessing Officer for the A.Y 2009-10 were dismissed. The Tribunal upheld the deletion of protective additions, ruling that withdrawals by the principal contractor could not be presumed as business expenditure. Income estimation for sub-contractors was set at 5% of gross receipts, while main contractors were estimated at 8%, following the High Court's precedent. The Tribunal emphasized that no additional disallowances could be made when income is estimated. The Tribunal directed verification of contractor status to ensure accurate income estimation. Appeals by the Revenue were dismissed, and decisions aligned with High Court principles and previous rulings. Case-Laws Income Tax Fri, 10 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=350838