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Income Tax - Highlights / Catch Notes

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Estimating the profit @ 25 % based on the facts that the ...


Jewelry Profit Dispute: Tainted Purchases Questioned Over Unrealistic 25% Profit Estimation, 6% Seen as Viable.

November 30, 2023

Case Laws     Income Tax     AT

Estimating the profit @ 25 % based on the facts that the purchase is tainted - Costlier jewellery items where the profit margins are very thin - the profit in this business if disclosed @ 6 % is desirable - AT

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