Deciding two connected writ petitions arising from a common Industrial Tribunal Award, the Delhi High Court set aside the Tribunal's direction granting hotel workmen a further…
Labour Laws
06/09/20264 min read
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Informative
Estimation of Gross Profit Rate and Unverifiable Purchases: ITAT Upholds CIT(A)’s Decision to Limit GP to 1%
Income Tax
ITAT upheld the CIT(A)'s decision to limit the estimation of gross profit rate and unverifiable purchases. The tribunal's decision ensures that estimations are reasonable and justified. This ruling protects taxpayers from arbitrary profit estimations. ITAT’s ruling protects tax payers. This decision is important for tax estimations.
