https://www.taxtmi.com/caselaws?id=444445 Gross profit estimation adopted from intelligence proceedings was upheld where the assessee did not challenge the estimated rate further and the Assessing Authority merely carried the same estimate into the assessment. The Court found no basis to interfere because the rate was not shown to be unreasonably higher than the gross profit already conceded by the assessee. The refusal of the Tribunal to disturb the assessment was therefore justified, and the challenge failed. en-us Wed, 27 Sep 2023 00:00:00 +0530 Tue, 17 Oct 2023 08:36:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=444445 Gross profit estimation adopted from intelligence proceedings was upheld where the assessee did not challenge the estimated rate further and the Assessing Authority merely carried the same estimate into the assessment. The Court found no basis to interfere because the rate was not shown to be unreasonably higher than the gross profit already conceded by the assessee. The refusal of the Tribunal to disturb the assessment was therefore justified, and the challenge failed. Case-Laws VAT and Sales Tax Wed, 27 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=444445