https://www.taxtmi.com/caselaws?id=779426 Income may be estimated on a reasonable basis where the assessee does not satisfactorily prove the declared net profit and the Revenue also fails to produce comparable material to justify a higher rate. On the facts, the tribunal found that an 8% net profit estimate was not supported by comparable cases from the same line of business and reduced the estimate to 4%, with income recomputed accordingly. The assessee obtained partial relief as the addition based on the higher profit rate was substantially curtailed. en-us Tue, 30 Sep 2025 00:00:00 +0530 Mon, 06 Oct 2025 09:10:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=779426 Income may be estimated on a reasonable basis where the assessee does not satisfactorily prove the declared net profit and the Revenue also fails to produce comparable material to justify a higher rate. On the facts, the tribunal found that an 8% net profit estimate was not supported by comparable cases from the same line of business and reduced the estimate to 4%, with income recomputed accordingly. The assessee obtained partial relief as the addition based on the higher profit rate was substantially curtailed. Case-Laws Income Tax Tue, 30 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=779426