https://www.taxtmi.com/caselaws?id=755873 The tribunal partially allowed the assessee's appeal, condoning the delay in filing due to unawareness of the order. It reduced the estimated income from 15% to 8% of turnover for the real estate business, citing insufficient evidence for both the original and claimed estimations. For agricultural income, the tribunal directed the Assessing Officer to recognize 40% of the receipts as agricultural income, foregoing further verification to expedite resolution. The decision balanced the assessee's interests with tax assessment requirements, providing a pragmatic resolution to the disputes. en-us Fri, 19 Jul 2024 00:00:00 +0530 Mon, 22 Jul 2024 09:10:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=755873 The tribunal partially allowed the assessee's appeal, condoning the delay in filing due to unawareness of the order. It reduced the estimated income from 15% to 8% of turnover for the real estate business, citing insufficient evidence for both the original and claimed estimations. For agricultural income, the tribunal directed the Assessing Officer to recognize 40% of the receipts as agricultural income, foregoing further verification to expedite resolution. The decision balanced the assessee's interests with tax assessment requirements, providing a pragmatic resolution to the disputes. Case-Laws Income Tax Fri, 19 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=755873