liquor sales net profit estimated at 3% case laws

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sir

i want the latest judgment on liquor sales net profit estimated at 3% by various tribunala, high courts and supreme court. please do the needful immediately.

AI Summary

Discussion on Tribunal's Ruling: Net Profit for Liquor Sales Estimated at 3% of Purchases, 10% for Bars with Food Sales. A forum participant inquired about recent judgments regarding the estimation of net profit at 3% for liquor sales by various courts. Responses included references to cases from the Income Tax Appellate Tribunal (ITAT) in Hyderabad, where similar issues were addressed. In one case, the ITAT estimated net profit for a liquor business at 3% of purchases or stock put for sale, following consistent tribunal decisions. Another case involved a bar and restaurant where the profit was estimated at 10% due to additional food sales. The forum also discussed the treatment of cash gifts and business expenses in tax assessments.