https://www.taxtmi.com/caselaws?id=777801 ITAT (Agra) upheld rejection of books but reduced AO's estimation of net profit from 8% to 4% of gross turnover. Noting large year-to-year fluctuations in sales and declared profits and that the assessee is a civil contractor operating in an unorganized sector with difficulty evidencing labour/wage payments, the tribunal found 4% a fair estimate to meet ends of justice and partly allowed the assessee's grounds while directing the AO to compute income accordingly. en-us Wed, 03 Sep 2025 00:00:00 +0530 Fri, 05 Sep 2025 08:10:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=777801 ITAT (Agra) upheld rejection of books but reduced AO's estimation of net profit from 8% to 4% of gross turnover. Noting large year-to-year fluctuations in sales and declared profits and that the assessee is a civil contractor operating in an unorganized sector with difficulty evidencing labour/wage payments, the tribunal found 4% a fair estimate to meet ends of justice and partly allowed the assessee's grounds while directing the AO to compute income accordingly. Case-Laws Income Tax Wed, 03 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=777801