https://www.taxtmi.com/caselaws?id=433423 The Tribunal partially allowed the assessee's appeal by adjusting the net profit estimation from 5% to 2.5% of turnover for the assessment year. Despite the assessee's acceptance of the 5% estimation due to financial constraints, the Tribunal considered past profit rates and lack of defects in the provided details to grant relief. The adjustment resulted in a net profit of Rs.18,92,912/-, significantly reducing the assessed income and providing substantial relief to the assessee. en-us Tue, 13 Dec 2022 00:00:00 +0530 Mon, 30 Jan 2023 10:19:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=433423 The Tribunal partially allowed the assessee's appeal by adjusting the net profit estimation from 5% to 2.5% of turnover for the assessment year. Despite the assessee's acceptance of the 5% estimation due to financial constraints, the Tribunal considered past profit rates and lack of defects in the provided details to grant relief. The adjustment resulted in a net profit of Rs.18,92,912/-, significantly reducing the assessed income and providing substantial relief to the assessee. Case-Laws Income Tax Tue, 13 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=433423