https://www.taxtmi.com/caselaws?id=428147 The Tribunal upheld the Ld. CIT(A)'s estimation of profit at 8% of gross receipts under section 44AD of the Income Tax Act, 1961. Despite the assessee's argument and comparisons with other contractors, the lack of evidence regarding expenses led to the decision. The Tribunal found the estimation reasonable and dismissed the appeal, emphasizing the importance of providing supporting evidence in such cases. en-us Wed, 21 Sep 2022 00:00:00 +0530 Fri, 23 Sep 2022 15:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=428147 The Tribunal upheld the Ld. CIT(A)'s estimation of profit at 8% of gross receipts under section 44AD of the Income Tax Act, 1961. Despite the assessee's argument and comparisons with other contractors, the lack of evidence regarding expenses led to the decision. The Tribunal found the estimation reasonable and dismissed the appeal, emphasizing the importance of providing supporting evidence in such cases. Case-Laws Income Tax Wed, 21 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=428147