https://www.taxtmi.com/caselaws?id=369336 The High Court upheld the Tribunal's decision regarding the estimation of income for the Assessment Year 2008-2009. The Court found that the confirmation of a 15% net profit rate for a new business unit without factoring in depreciation and interest on borrowing was justified based on the evidence presented. The appellant's challenge was dismissed as the Court deemed the facts conclusive, leading to the dismissal of the appeal without costs. en-us Wed, 03 Oct 2018 00:00:00 +0530 Wed, 24 Oct 2018 18:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=369336 The High Court upheld the Tribunal's decision regarding the estimation of income for the Assessment Year 2008-2009. The Court found that the confirmation of a 15% net profit rate for a new business unit without factoring in depreciation and interest on borrowing was justified based on the evidence presented. The appellant's challenge was dismissed as the Court deemed the facts conclusive, leading to the dismissal of the appeal without costs. Case-Laws Income Tax Wed, 03 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=369336