Addition of unaccounted profit on estimation basis in trading/ manufacturing of diamonds restricted to 10%

Darrk Diamonds Vs I.T.O (ITAT Surat)

ITAT Surat held that the addition on account of unaccounted profit on estimation basis, in trading/ manufacturing of diamonds, restricted at 10% of the sales in view of CBDT instructions vide circular no. 2/2008 dated 22nd February 2008.

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