https://www.taxtmi.com/caselaws?id=120250 The Tribunal upheld the Assessing Officer's estimation of a 15% profit margin on the illegal business activities involving trading N-Hexane, rejecting the comparison with a similar case and emphasizing the higher profit expectations in illegal trades. The claim for telescoping of undisclosed income was dismissed, as the Tribunal found no nexus between the undisclosed income and assets, reinstating the original order. The judgment highlights the need for clear evidence to support claims for telescoping and the consideration of higher profit margins in illegal activities. en-us Mon, 27 Feb 2006 00:00:00 +0530 Tue, 17 Jul 2012 18:36:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=120250 The Tribunal upheld the Assessing Officer's estimation of a 15% profit margin on the illegal business activities involving trading N-Hexane, rejecting the comparison with a similar case and emphasizing the higher profit expectations in illegal trades. The claim for telescoping of undisclosed income was dismissed, as the Tribunal found no nexus between the undisclosed income and assets, reinstating the original order. The judgment highlights the need for clear evidence to support claims for telescoping and the consideration of higher profit margins in illegal activities. Case-Laws Income Tax Mon, 27 Feb 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=120250