https://www.taxtmi.com/caselaws?id=468384 Where regular books of account are not maintained, income may be estimated on available material, and the rate should be supported by the record. In this matter, the Assessing Officer applied 8% of gross receipts without comparable material, while the appellate authority reduced the estimate to 6% after treating transportation and hire charges as part of contract receipts and relying on a coordinate bench view. On those facts, the 6% estimation was found justified and the addition based on that rate was sustained. en-us Thu, 27 Nov 2014 00:00:00 +0530 Mon, 04 May 2026 12:11:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=468384 Where regular books of account are not maintained, income may be estimated on available material, and the rate should be supported by the record. In this matter, the Assessing Officer applied 8% of gross receipts without comparable material, while the appellate authority reduced the estimate to 6% after treating transportation and hire charges as part of contract receipts and relying on a coordinate bench view. On those facts, the 6% estimation was found justified and the addition based on that rate was sustained. Case-Laws Income Tax Thu, 27 Nov 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=468384