https://www.taxtmi.com/caselaws?id=282955 The Tribunal partially allowed the appeal filed by the assessee challenging the addition of profit at 8% of the contract receipt. The Tribunal considered historical net profit rates and determined that a net profit rate of 6% for the relevant assessment year was just. This decision was based on the assessee's failure to provide complete details, leading to the rejection of book results by the Assessing Officer. As a result, the Tribunal found the 8% profit estimation unreasonable and adjusted it to 6%, resulting in the partial allowance of the appeal. en-us Wed, 13 Feb 2019 00:00:00 +0530 Sat, 31 Aug 2019 16:49:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=282955 The Tribunal partially allowed the appeal filed by the assessee challenging the addition of profit at 8% of the contract receipt. The Tribunal considered historical net profit rates and determined that a net profit rate of 6% for the relevant assessment year was just. This decision was based on the assessee's failure to provide complete details, leading to the rejection of book results by the Assessing Officer. As a result, the Tribunal found the 8% profit estimation unreasonable and adjusted it to 6%, resulting in the partial allowance of the appeal. Case-Laws Income Tax Wed, 13 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=282955