https://www.taxtmi.com/caselaws?id=788803 ITAT Ranchi held that where the assessee's declared net profit rate was supported by its past history, an earlier year's decision in its own case, and the nature of the contract business, the declared result should be accepted. In the absence of any material evidence from the revenue to justify departure, an arbitrary estimate of profit at 8% could not be sustained. The tribunal accepted the declared net profit rate of 6.10% and deleted the addition made on estimated profits, applying the principle of consistency and rejecting unsupported higher estimation. en-us Wed, 25 Mar 2026 00:00:00 +0530 Sat, 28 Mar 2026 08:57:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=788803 ITAT Ranchi held that where the assessee's declared net profit rate was supported by its past history, an earlier year's decision in its own case, and the nature of the contract business, the declared result should be accepted. In the absence of any material evidence from the revenue to justify departure, an arbitrary estimate of profit at 8% could not be sustained. The tribunal accepted the declared net profit rate of 6.10% and deleted the addition made on estimated profits, applying the principle of consistency and rejecting unsupported higher estimation. Case-Laws Income Tax Wed, 25 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=788803