https://www.taxtmi.com/caselaws?id=241109 The Tribunal upheld the CIT(A)'s decision to estimate the net profit at 5% for a liquor retailer, rejecting the Revenue's challenge for the assessment year 2010-2011. The Tribunal dismissed the Revenue's appeal on profit estimation but set aside the CIT(A)'s deletion of the addition under section 68 regarding unexplained cash credits, directing the AO to re-examine the issue. The order was pronounced on 23rd October 2013. en-us Wed, 23 Oct 2013 00:00:00 +0530 Tue, 17 Dec 2013 11:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=241109 The Tribunal upheld the CIT(A)'s decision to estimate the net profit at 5% for a liquor retailer, rejecting the Revenue's challenge for the assessment year 2010-2011. The Tribunal dismissed the Revenue's appeal on profit estimation but set aside the CIT(A)'s deletion of the addition under section 68 regarding unexplained cash credits, directing the AO to re-examine the issue. The order was pronounced on 23rd October 2013. Case-Laws Income Tax Wed, 23 Oct 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=241109