No Substantial Question of Law in Profit Estimation Reduced by Appellate Authorities: Bombay HC

CIT Tax-27 Vs Jitendra Shivjibhai Patel (Bombay High Court) Estimation of profit by AO and reduction in appeal does not result in substantial question of law: Bombay HC The court considered appeals presented by the involved parties. Upon reviewing the submissions and hearing arguments, the court determined that the appeals did not raise any substantial question of law. The central issue contested in these appeals was the method or outcome of profit estimation made by the Assessing Officer, which had subsequently been reviewed and either reduced or confirmed by the appellate authorities. The co...