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2014 (2) TMI 318 - ITAT HYDERABADEstimation of income - Held that:- The nature of the business is civil construction and in similar lines of business, the profit is generally in the range of 8 to 12%, depending on the facts of the case such as location, size, type of the project etc - Considering that assessee's profit was less than 4%, estimation by CIT(A) at 8% is reasonable - Revenue has not made out any case on the basis of profits earned by the assessee in earlier years or later years in substantiating the estimation at 12% - The Tribunal didnot have any other details of facts regarding the gross profit rate of the assessee's group concern - The order of CIT(A) is confirmed - Decided against Revenue.
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