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Apply Reasonable Profit Rate Due to Sub-Contracts, Not 10%: ITAT Bangalore

Case Law Details

Case Name : DCIT Vs USK Constructions Co. DP (ITAT Bangalore)
Related Assessment Year : 2019-20
Courts : All ITAT ITAT Bangalore
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DCIT Vs USK Constructions Co. DP (ITAT Bangalore)

ITAT Bangalore: Profit Estimation in Search Case—10% Rejected; Reasonable Rate to Be Applied Considering Sub-Contracts

The Income Tax Appellate Tribunal partly allowed the Revenue’s appeal for AY 2019-20 in the case of USK

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Author Bio

Name: CA Vijayakumar Shetty
Qualification: CA in Practice
Company: Shetty & Co, Chartered Accountants, Mangalore
Location: Mangalore, Karnataka, India
Member Since: 17 Feb 2018 | Total Posts: 4558
CA Vijayakumar Shetty qualified in 1994 and in practice since then. Founding partner of Shetty & Co. He is a graduate from St Aloysius College, Mangalore . View Full Profile

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