Estimation of 8% profit in contract work for government justifiable: ITAT Pune

ITO Vs Sharad Anandrao Deore (ITAT Pune)

ITAT Pune held that estimation of profit at 8% in case of contract work for government department, by taking provisions of section 44AD of the Income Tax Act as parameter, is justifiable. Accordingly, order of CIT(A) uphold.

Facts- The assessee is an individual and engaged in the business as government contractor. He filed his return of income on 31.10.2018 declaring total income of Rs.49,61,890/-. The case was selected for limited scrutiny assessment under the E-assessment Scheme, 2019. In absence of non-furnishing o

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