https://www.taxtmi.com/caselaws?id=461506 The ITAT Delhi upheld the CIT(A)'s decision rejecting the AO's estimation of net profit at 5% of gross turnover. The assessee had consistently followed the same accounting system accepted by the department in previous scrutiny assessments under section 143(3). The Revenue failed to challenge the CIT(A)'s findings regarding the assessee's regular compliance history and increased net profit compared to earlier years. The AO provided no comparative cases or confronted the assessee with supporting material for the higher profit percentage conclusion. Without departmental arguments or evidence to justify the estimation, the ITAT decided against the Revenue. en-us Fri, 03 Jan 2014 00:00:00 +0530 Wed, 09 Apr 2025 18:30:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=461506 The ITAT Delhi upheld the CIT(A)'s decision rejecting the AO's estimation of net profit at 5% of gross turnover. The assessee had consistently followed the same accounting system accepted by the department in previous scrutiny assessments under section 143(3). The Revenue failed to challenge the CIT(A)'s findings regarding the assessee's regular compliance history and increased net profit compared to earlier years. The AO provided no comparative cases or confronted the assessee with supporting material for the higher profit percentage conclusion. Without departmental arguments or evidence to justify the estimation, the ITAT decided against the Revenue. Case-Laws Income Tax Fri, 03 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=461506