Profit estimation of 10% instead of 8% adopted under presumptive taxation scheme justified

Shiv Shakti Construction Vs ACIT (ITAT Delhi)

ITAT Delhi held that estimation of profit at 10%, instead of 8% as adopted under presumptive scheme of taxation provided u/s. 44AD, justified as the same is guided by the principles of objectivity, fairness and consideration of justice.

Facts- The assessee a partnership firm is engaged in 100% Government contracts only and is a government approved civil contractor. The assessee is engaged in the execution of irrigation developm

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