https://www.taxtmi.com/caselaws?id=208085 The High Court ruled in favor of the Revenue in an appeal under the Income-tax Act, 1961. The court held that the entire sale amount, not just the profit, should be considered as income due to unexplained investments in apple purchases. Despite previous decisions citing only profits as taxable, the lack of evidence of accounted investments led to the entire sale amount being added to the assessee's income. Consequently, the appeal was allowed, answering the substantial question of law in favor of the Revenue. en-us Thu, 31 Mar 2011 00:00:00 +0530 Mon, 17 Dec 2012 16:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=208085 The High Court ruled in favor of the Revenue in an appeal under the Income-tax Act, 1961. The court held that the entire sale amount, not just the profit, should be considered as income due to unexplained investments in apple purchases. Despite previous decisions citing only profits as taxable, the lack of evidence of accounted investments led to the entire sale amount being added to the assessee's income. Consequently, the appeal was allowed, answering the substantial question of law in favor of the Revenue. Case-Laws Income Tax Thu, 31 Mar 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=208085