High Court Rules in Favor of Assessee, Overturns ITAT's Progressive Profit Rate Approach for Tax Assessment Over Five Years.

Estimation of income - ITAT applied the progressive rate of estimated profit for 5 years from 10% to 25% - Assessee sought Net profit rate to the entire receipts both disclosed and undisclosed - the assessee is entitled to succeed. - HC .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X