https://www.taxtmi.com/caselaws?id=276401 The Appellate Tribunal ITAT Hyderabad upheld the CIT (A) order, directing the AO to estimate net profit at 3% of purchases or stock put for sale during the year, based on a previous decision involving M/s Kanaka Durga Wines. The Tribunal dismissed the Revenue's appeal, ensuring the assessed income is not less than the returned income. Consequently, the Cross Objection filed by the assessee was also dismissed as infructuous. en-us Fri, 04 May 2012 00:00:00 +0530 Sat, 10 Nov 2018 09:54:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=276401 The Appellate Tribunal ITAT Hyderabad upheld the CIT (A) order, directing the AO to estimate net profit at 3% of purchases or stock put for sale during the year, based on a previous decision involving M/s Kanaka Durga Wines. The Tribunal dismissed the Revenue's appeal, ensuring the assessed income is not less than the returned income. Consequently, the Cross Objection filed by the assessee was also dismissed as infructuous. Case-Laws Income Tax Fri, 04 May 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=276401