https://www.taxtmi.com/caselaws?id=276402 The Appellate Tribunal ITAT Hyderabad upheld the orders of the Commissioner of Income-tax(Appeals)- VI, Hyderabad in two appeals by the Revenue regarding the estimation of profit of the assessees from the business of retail trade in liquor for the assessment years 2007-08 and 2008-09. The Tribunal confirmed the CIT(A) directive to estimate net profit at 3% of purchases or stock put for sale, based on a previous Tribunal decision. As the CIT(A) orders were consistent with previous decisions, the Tribunal dismissed the Revenue's appeals, pronouncing the orders on 4.5.2012. en-us Fri, 04 May 2012 00:00:00 +0530 Sat, 10 Nov 2018 10:08:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=276402 The Appellate Tribunal ITAT Hyderabad upheld the orders of the Commissioner of Income-tax(Appeals)- VI, Hyderabad in two appeals by the Revenue regarding the estimation of profit of the assessees from the business of retail trade in liquor for the assessment years 2007-08 and 2008-09. The Tribunal confirmed the CIT(A) directive to estimate net profit at 3% of purchases or stock put for sale, based on a previous Tribunal decision. As the CIT(A) orders were consistent with previous decisions, the Tribunal dismissed the Revenue's appeals, pronouncing the orders on 4.5.2012. Case-Laws Income Tax Fri, 04 May 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=276402