https://www.taxtmi.com/caselaws?id=464413 ITAT held the Assessing Officer's mechanical adoption of a 5.06% net profit was unsustainable for the taxpayer, finding reliance on other assessees' percentages improper without factual comparability of cost structures and asset ownership. The Tribunal set aside the AO's estimate, directed adoption of a 4% net profit for the relevant year given first-year operations with hired vehicles, and ordered the AO to allow partner salary and interest after applying the 4% and recompute the assessment. The appeal was partly allowed. en-us Fri, 24 Aug 2012 00:00:00 +0530 Wed, 29 Oct 2025 10:04:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=464413 ITAT held the Assessing Officer's mechanical adoption of a 5.06% net profit was unsustainable for the taxpayer, finding reliance on other assessees' percentages improper without factual comparability of cost structures and asset ownership. The Tribunal set aside the AO's estimate, directed adoption of a 4% net profit for the relevant year given first-year operations with hired vehicles, and ordered the AO to allow partner salary and interest after applying the 4% and recompute the assessment. The appeal was partly allowed. Case-Laws Income Tax Fri, 24 Aug 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=464413