https://www.taxtmi.com/caselaws?id=426277 The Appellate Tribunal ITAT Mumbai upheld the Ld.CIT(A)'s decision in estimating profits in real estate projects based on incriminating material found during a search operation. The Tribunal dismissed the appeals by both the assessee and the revenue, following decisions in related cases and sustaining the profit ratios determined by the Ld.CIT(A). Issues related to jurisdictional matters, violation of natural justice, and the application of accounting standards were also addressed and decided in favor of the Ld.CIT(A). en-us Thu, 21 Jul 2022 00:00:00 +0530 Fri, 12 Aug 2022 08:30:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=426277 The Appellate Tribunal ITAT Mumbai upheld the Ld.CIT(A)'s decision in estimating profits in real estate projects based on incriminating material found during a search operation. The Tribunal dismissed the appeals by both the assessee and the revenue, following decisions in related cases and sustaining the profit ratios determined by the Ld.CIT(A). Issues related to jurisdictional matters, violation of natural justice, and the application of accounting standards were also addressed and decided in favor of the Ld.CIT(A). Case-Laws Income Tax Thu, 21 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=426277