https://www.taxtmi.com/caselaws?id=396154 The Tribunal partly allowed the appeal, directing the Assessing Officer to estimate the income at 7% based on commission income earned from milk sales, historical profit margins, and an expected increase in profits. The rejection of book results was upheld, but the estimated gross profit was reduced to 11% from the initial 15% estimation by the Commissioner of Income Tax (Appeals). en-us Fri, 06 Mar 2020 00:00:00 +0530 Wed, 24 Jun 2020 14:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=396154 The Tribunal partly allowed the appeal, directing the Assessing Officer to estimate the income at 7% based on commission income earned from milk sales, historical profit margins, and an expected increase in profits. The rejection of book results was upheld, but the estimated gross profit was reduced to 11% from the initial 15% estimation by the Commissioner of Income Tax (Appeals). Case-Laws Income Tax Fri, 06 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=396154