https://www.taxtmi.com/caselaws?id=792211 Business income was estimated by reference to past audited results rather than a flat 8% of receipts, because the assessee's turnover, contractual business pattern, and earlier net profit history were consistent. With prior years showing net profit rates of about 5% to 5.5%, the earlier trend was treated as the fair benchmark for estimation. The net profit rate was therefore directed at 5.75% instead of 8%, reducing the estimated income and granting relief to the assessee. en-us Wed, 20 May 2026 00:00:00 +0530 Mon, 25 May 2026 08:14:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=792211 Business income was estimated by reference to past audited results rather than a flat 8% of receipts, because the assessee's turnover, contractual business pattern, and earlier net profit history were consistent. With prior years showing net profit rates of about 5% to 5.5%, the earlier trend was treated as the fair benchmark for estimation. The net profit rate was therefore directed at 5.75% instead of 8%, reducing the estimated income and granting relief to the assessee. Case-Laws Income Tax Wed, 20 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=792211