https://www.taxtmi.com/caselaws?id=782489 ITAT Rajkot partly allowed the assessee's appeal against the AO's estimation of profit at 4% of gross turnover. ITAT noted that the AO had not identified specific defects in the evidences nor held them to be bogus, warranting some relief. However, complete relief was denied to address possible inconsistencies and protect revenue. ITAT directed application of a reduced net profit rate of 3.5% on gross turnover, thereby sustaining an addition at 3.5% instead of 4% as made by the AO. en-us Mon, 24 Nov 2025 00:00:00 +0530 Mon, 01 Dec 2025 08:50:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=782489 ITAT Rajkot partly allowed the assessee's appeal against the AO's estimation of profit at 4% of gross turnover. ITAT noted that the AO had not identified specific defects in the evidences nor held them to be bogus, warranting some relief. However, complete relief was denied to address possible inconsistencies and protect revenue. ITAT directed application of a reduced net profit rate of 3.5% on gross turnover, thereby sustaining an addition at 3.5% instead of 4% as made by the AO. Case-Laws Income Tax Mon, 24 Nov 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=782489