https://www.taxtmi.com/caselaws?id=199360 The Tribunal allowed the appeal of the assessee regarding the estimation of profit from accommodation turnover for the assessment year 2010-11. The Tribunal found the Assessing Officer's estimation of profit at 3% to be unjustified and excessive, compared to the 1% declared by the assessee. Emphasizing the lack of specific basis for faulting the assessee's calculation, the Tribunal restricted the income from accommodation turnover to 1%, ruling in favor of the assessee on 19.10.2016. en-us Wed, 19 Oct 2016 00:00:00 +0530 Tue, 27 Feb 2018 07:09:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=199360 The Tribunal allowed the appeal of the assessee regarding the estimation of profit from accommodation turnover for the assessment year 2010-11. The Tribunal found the Assessing Officer's estimation of profit at 3% to be unjustified and excessive, compared to the 1% declared by the assessee. Emphasizing the lack of specific basis for faulting the assessee's calculation, the Tribunal restricted the income from accommodation turnover to 1%, ruling in favor of the assessee on 19.10.2016. Case-Laws Income Tax Wed, 19 Oct 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=199360