https://www.taxtmi.com/caselaws?id=466621 Assessment of a transporter who owns over ten goods carriages and failed to produce books was directed to be estimated using the presumptive taxation formula as a guiding benchmark. The Tribunal relied on prior reasoning that, where audited or reliable books are unavailable, the presumptive rates for plying goods carriages may be used to compute taxable profit subject to assessment year specific adjustments; the matter is remitted for recalculation on that basis. Other additions and disallowances sustained by the assessing authority were upheld to the extent reflected in the order. en-us Fri, 24 Oct 2025 00:00:00 +0530 Fri, 13 Feb 2026 19:07:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=466621 Assessment of a transporter who owns over ten goods carriages and failed to produce books was directed to be estimated using the presumptive taxation formula as a guiding benchmark. The Tribunal relied on prior reasoning that, where audited or reliable books are unavailable, the presumptive rates for plying goods carriages may be used to compute taxable profit subject to assessment year specific adjustments; the matter is remitted for recalculation on that basis. Other additions and disallowances sustained by the assessing authority were upheld to the extent reflected in the order. Case-Laws Income Tax Fri, 24 Oct 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=466621