ITAT Lowers Estimated Profit Rate from 8% to 4% After Considering State Shutdown and Medicine Trade Margins:
The ITAT reduces estimated profit rate from 8% to 4% for a Kashmir medicine trader after considering business nature and difficulties in producing books of account.
Kashmir Medicine Trader Wins ITAT Relief
Saloni Kumari
Jul 25, 2026Premium
ITAT Lowers Estimated Profit Rate from 8% to 4% After Considering State Shutdown and Medicine Trade Margins
The ITAT reduces estimated profit rate from 8% to 4% for a Kashmir medicine trader after considering business nature and difficulties in producing books of account.
Also Read
ITAT Rules Reassessment Notices Where Escaped Income Ultimately Fell Below Rs 50 Lakh Threshold as UnsustainableITR Deadline July 31: No Official Extension Yet, Experts Warn Taxpayers Not to Wait ITAT Rules BSNL VRS Compensation Exempt from Tax Under Section 10(10B), Grants Leave Encashment ReliefTechnical Mistake In Mentioning Correct Provision Cannot Be A Reason To Deny Section 12AB Registration, Holds ITAT
About Author
Saloni Kumari
Content Writer
Saloni is a Content Writer with 2+ years of experience at studycafe.in. She writes legal, taxation, and finance related content including GST, Income Tax etc. Skilled in translating complex judicial pronouncements and regulatory developments into clear, and reader-friendly articles. Experienced in covering judgements of ITAT, High Court, GSTAT, and news related to Income Tax, GST, and corporate law. She can be reached at [email protected].
Saloni is a Content Writer with 2+ years of experience at studycafe.in. She writes legal, taxation, and finance related content including GST, Income Tax etc. Skilled in translating complex judicial pronouncements and regulatory developments into clear, and reader-friendly articles. Experienced in covering judgements of ITAT, High Court, GSTAT, and news related to Income Tax, GST, and corporate law. She can be reached at [email protected].
StudyCafe
Delhi, Delhi, India
2480My Recent Articles
- Technical Mistake In Mentioning Correct Provision Cannot Be A Reason To Deny Section 12AB Registration, Holds ITATPremium
- CBDT Grants Income Tax Exemption To DLSA Jind, Under Section 10(46) for AYs 2023-24 to 2026-27
- AAR Denies GST Exemption Claims for Citizen Service Activities Under Notification No. 12/2017Premium
- Filing ITR for AY 2026-27? Don’t Click ‘Submit’ Until You Complete These Essential Checks
- EOW Arrests Two Individuals for Using Bogus GST Firm to Generate and Pass Rs 4.17 Crore Bogus ITC
Up Next
Loading suggestions…
Recent Posts
All Posts
Tags
Recent Posts
All Posts