Real Estate and Contract Cases: Profits Estimated at 12.5% for Fairness in Suppressed Turnover Calculations.

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....Estimation of profit of Suppressed turnover - Generally in real estate/contract cases, profit is estimated at 12.5%. As assessee has mostly sold real estate plots, we are of the opinion that estimation of income at 12.5% on the suppressed turnover will meet the ends of justice.....