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TMI Blog2018 (5) TMI 1778X X X X Extracts X X X X X X X X Extracts X X X X ..... s issue, prefer to follow the same and direct the A.O to estimate the income of the assessee @ 3% of cost of sales of stock for the impugned assessment year. - ITA No. 22/Hyd/2018 - - - Dated:- 9-5-2018 - Shri J. Sudhakar Reddy, J. Assessee by : Shri P. Vinod Revenue by : Smt. N. Swapna ORDER Shri J. Sudhakar Reddy, This appeal is filed by the assessee directed aga ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... year. 4. After hearing rival contentions I find that there is a cleavage of opinion between different benches of the ITAT on this issue as to whether the percentage should be 3% or 5%. As the decision in the case of Shri Late Mushkam, Adilabad (supra), and in the case of Shri Badri Srinivas and others Vs. ITO in ITA Nos. 1515, 1516, 1517 1518/Hyd/2017, dated 08.02.2018 which is the latest ord ..... X X X X Extracts X X X X X X X X Extracts X X X X
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