Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2018 (5) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2018 (5) TMI 1778 - ITAT HYDERABADEstimation of profit as a percentage of turnover should be 3% or 5% - Held that:- As the decision in the case of Shri Late Mushkam, Adilabad [2017 (4) TMI 1401 - ITAT HYDERABAD], and in the case of Shri Badri Srinivas and others Vs. ITO [2018 (2) TMI 1775 - ITAT HYDERABAD] which is the latest order’s on this issue, prefer to follow the same and direct the A.O to estimate the income of the assessee @ 3% of cost of sales of stock for the impugned assessment year.
|