https://www.taxtmi.com/caselaws?id=244353 The Tribunal upheld the direction to estimate net profit at 5% of purchases or stock sold, dismissing the Revenue's appeal. The assessee's appeal challenging the additions made by the A.O. was partly allowed for statistical purposes. The Tribunal remanded the issues to the A.O. for further examination, emphasizing a thorough review of purchases, sales, and license fee payments. The decision ensured a comprehensive analysis of the financial aspects involved in estimating income in a liquor business and addressing specific additions made by the Assessing Officer. en-us Wed, 19 Feb 2014 00:00:00 +0530 Mon, 24 Feb 2014 05:40:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=244353 The Tribunal upheld the direction to estimate net profit at 5% of purchases or stock sold, dismissing the Revenue's appeal. The assessee's appeal challenging the additions made by the A.O. was partly allowed for statistical purposes. The Tribunal remanded the issues to the A.O. for further examination, emphasizing a thorough review of purchases, sales, and license fee payments. The decision ensured a comprehensive analysis of the financial aspects involved in estimating income in a liquor business and addressing specific additions made by the Assessing Officer. Case-Laws Income Tax Wed, 19 Feb 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=244353