ITAT affirms 8% Profit Rate Estimation for Government Contractor [Read Order]
The tribunal upheld the decision of CIT(A), affirming an 8% profit rate estimation for the assessee, a government contractor, dismissing the Revenue’s appeal
By Franklin Joshva - On March 14, 2025 11:22 am - 2 mins read
The Pune Bench of the Income Tax Appellate Tribunal (ITAT) has upheld the decision of the Commissioner of Income Tax (Appeals) [CIT(A)] in estimating the profit at 8% of the gross contract receipts. Sharad Anandrao Deore (assessee), a government contractor engaged in construction work, had filed an Income Tax Return (ITR) declaring a total income…
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