The court upheld a tax assessment at 8% net profit rate for civil work contract, favoring the assessee.

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....The High Court reviewed a case involving a rough assessment of tax quantum and the validity of a Best judgment assessment for determining net profit in a civil work contract. The assessing officer acknowledged the receipt of consideration for civil work, which was supported by materials not disputed. The ITAT noted the net profit rates of the past seven years and comparable rates in the trade, settling on a rate of 8% agreed upon by the assessee. The court found no fault in the application of the 8% net profit rate, upholding the ITAT's decision as legally sound. The judgment favored the assessee based on best judgment assessment principles.....