https://www.taxtmi.com/caselaws?id=366176 The High Court upheld the Income Tax Appellate Tribunal's decision to affirm the 7.17% profit estimation by the Assessing Officer for a jewelry firm for block assessment years. The Court found no legal basis for reducing the profit percentage without substantial evidence, emphasizing that the matter was factual rather than a substantial question of law. The appeal against the Tribunal's order was dismissed, concluding the dispute over the estimation of profit percentage in the jewelry business. en-us Mon, 13 Aug 2018 00:00:00 +0530 Thu, 30 Aug 2018 08:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=366176 The High Court upheld the Income Tax Appellate Tribunal's decision to affirm the 7.17% profit estimation by the Assessing Officer for a jewelry firm for block assessment years. The Court found no legal basis for reducing the profit percentage without substantial evidence, emphasizing that the matter was factual rather than a substantial question of law. The appeal against the Tribunal's order was dismissed, concluding the dispute over the estimation of profit percentage in the jewelry business. Case-Laws Income Tax Mon, 13 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=366176