https://www.taxtmi.com/caselaws?id=776000 Assessee's turnover from sale of milk and allied products was examined on an estimated basis because the claimed business expenditure was not supported by evidence and the Revenue produced no comparable material to justify a gross profit rate of 85%. In the absence of reliable supporting data from either side, the higher estimation made below was not accepted in full and a lump sum estimate was applied. The turnover was directed to be assessed at 8% instead of 85%, partly favouring the assessee. en-us Wed, 01 Jan 2025 00:00:00 +0530 Mon, 04 Aug 2025 08:28:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=776000 Assessee's turnover from sale of milk and allied products was examined on an estimated basis because the claimed business expenditure was not supported by evidence and the Revenue produced no comparable material to justify a gross profit rate of 85%. In the absence of reliable supporting data from either side, the higher estimation made below was not accepted in full and a lump sum estimate was applied. The turnover was directed to be assessed at 8% instead of 85%, partly favouring the assessee. Case-Laws Income Tax Wed, 01 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=776000