Tag: net profit rate

Net profit ratio of 3 percent in contract business allowed as in earlier years even lower profit rate was consistently accepted without objection-ITAT

Net profit ratio of 3 percent in contract business allowed as in earlier years even lower profit rate was consistently accepted without objection by the Department – ITAT ABCAUS Case Law Citation: ABCAUS 1225 (2017) (04) ITAT The Grievance: The appellant assessee was aggrieved by the order passed by …

There is no hard and fast rule of earning same net profit rate over different years. Additions without plausible reasons or rejecting books of accounts bad

There is no hard and fast rule of earning same net profit rate over different years. Additions made without any plausible reason or rejecting books of accounts bad – ITAT ABCAUS Case Law Citation: 1008 2016 (09) ITAT Assessment Year: 2010-11 Brief Facts of the Case: The appellant …
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