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Income Tax - Highlights / Catch Notes

Home Highlights May 2019 Year 2019 This

Best judgment assessment - dealing in gold as commission agent - ...

Income Tax

May 4, 2019

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

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