Case Law Details
Case Name : Ravindranath J. Mishra Vs ITO (ITAT Surat)
Related Assessment Year : 2010-11
Courts :
All ITAT ITAT Surat
Become a Premium member to Download.
If you are already a Premium member, Login here to access.
Sponsored
Ravindranath J. Mishra Vs ITO (ITAT Surat)
ITAT Surat held that addition of entire contractual receipt is unsustainable in law as the entire receipt cannot be treated as income. In absence of any material to show net profit rate, presumptive net profit rate of 8% is to be considered as estimated income.
Facts- The assessee’s case was re-opened for A.Y. 2010-11 by recording reasons that as per details in ITS data, the assessee has received contractual receipt of Rs.8,95,0
Please become a Premium member. If you are already a Premium member, login here to access the full content.
Sponsored
Kindly Refer to
Privacy Policy &
Complete Terms of Use and Disclaimer.