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1 - 9 of 9 (0.18 seconds)Section 29 in The Income Tax Act, 1961 [Entire Act]
Section 32 in The Income Tax Act, 1961 [Entire Act]
Section 234B in The Income Tax Act, 1961 [Entire Act]
Section 244A in The Income Tax Act, 1961 [Entire Act]
Commissioner Of Income Tax, Culcutta vs Karam Chand Thapar & Bros. (P) Ltd on 14 February, 1989
v. CIT (supra), including the fact that assessee has no
explanation for non-production of books of account and other
evidence before the AO cannot be utilized as an advantage
by the taxpayers and a rate of profit applied in such cases
less than 8% which is applicable in the case of contractors
having the gross receipts of less than 40 lacs. In our
considered view, the contractors who are executing bigger
contracts have bigger advantages in the form of
infrastructural facilities and administrative assistance. Taking
the totality of facts and circumstances of this case into
consideration, we are of the considered view that the net rate
of profit of 10%, as in the case of Brij Bhushan Lal Parduman
Kumar etc.
Section 260A in The Income Tax Act, 1961 [Entire Act]
Section 44AA in The Income Tax Act, 1961 [Entire Act]
Section 144 in The Income Tax Act, 1961 [Entire Act]
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