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![Application of 8% Net Profit Rate on Gross Receipts under Contract is valid unless Illegality is Proven: Calcutta HC upholds ITAT’s Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/Calcutta-High-Court-Calcutta-HC-Upholds-ITATs-Order-Net-Profit-Rate-Gross-Receipts-Unless-Illegality-taxscan.jpg "Application of 8% Net Profit Rate on Gross Receipts under Contract is valid unless Illegality is Proven: Calcutta HC upholds ITAT’s Order [Read Order]")
Application of 8% Net Profit Rate on Gross Receipts under Contract is valid unless Illegality is Proven: Calcutta HC upholds ITAT’s Order [Read Order]
In a recent case, the Calcutta High Court Upheld the ITAT order which held that the application of a net profit rate of 8% on gross receipts under...
![Income of Assessee to be estimated at 8% of the gross turnover, if books of accounts not maintained: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/03/Income-of-the-assessee-gross-turnover-books-of-accounts-ITAT-Taxscan.jpeg "Income of Assessee to be estimated at 8% of the gross turnover, if books of accounts not maintained: ITAT [Read Order]")
![Excessive Application of Net Profit Rate is Not Admissible: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2019/12/Net-Profit-Rate-Taxscan.jpg "Excessive Application of Net Profit Rate is Not Admissible: ITAT [Read Order]")