Gold Commission Agent's Profit Estimate Upheld at 3.5% Due to Lack of Evidence; No Legal Issues Found.

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Full Text of the Document

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....Best judgment assessment - dealing in gold as commission agent - Estimate of Profit Ratio - In the absence of any evidence placed by the Assessee, he cannot simply contend that Estimate of Income at 3.5% is unreasonable or perverse - The three authorities below have consistently upheld the said 'Ratio of Profit' - no Substantial Question of Law arise....