https://www.taxtmi.com/caselaws?id=465287 The earlier direction estimating profit at 5% was clarified to apply to gross turnover and, for simplicity, to total turnover. The profit rate is to be applied on total turnover, and the profit so determined means net profit. en-us Fri, 09 Mar 2012 00:00:00 +0530 Mon, 15 Dec 2025 13:21:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=465287 The earlier direction estimating profit at 5% was clarified to apply to gross turnover and, for simplicity, to total turnover. The profit rate is to be applied on total turnover, and the profit so determined means net profit. Case-Laws Income Tax Fri, 09 Mar 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=465287