https://www.taxtmi.com/caselaws?id=277657 The Tribunal partially allowed the appeals for AYs 2006-07 and 2007-08 by estimating income at 22.02% of gross receipts, aligning with the average net profit rate. For AYs 2008-09 and 2009-10, appeals were allowed as declared net profit rates were already higher than the average rate. The Tribunal stressed the need for substantiating claims with evidence and maintaining consistency with industry norms and historical data. The order was pronounced on 23rd April 2014. en-us Wed, 23 Apr 2014 00:00:00 +0530 Mon, 17 Dec 2018 06:35:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=277657 The Tribunal partially allowed the appeals for AYs 2006-07 and 2007-08 by estimating income at 22.02% of gross receipts, aligning with the average net profit rate. For AYs 2008-09 and 2009-10, appeals were allowed as declared net profit rates were already higher than the average rate. The Tribunal stressed the need for substantiating claims with evidence and maintaining consistency with industry norms and historical data. The order was pronounced on 23rd April 2014. Case-Laws Income Tax Wed, 23 Apr 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=277657