https://www.taxtmi.com/caselaws?id=191989 The Tribunal partly allowed the appeal, directing the Assessing Officer to estimate the net profit at 5% of total purchases and verify the availability of deemed income from the preceding year for granting telescoping benefits. The additions towards unexplained capital and unsecured loans were upheld due to insufficient evidence provided by the assessee. en-us Wed, 05 May 2010 00:00:00 +0530 Mon, 08 May 2017 17:36:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=191989 The Tribunal partly allowed the appeal, directing the Assessing Officer to estimate the net profit at 5% of total purchases and verify the availability of deemed income from the preceding year for granting telescoping benefits. The additions towards unexplained capital and unsecured loans were upheld due to insufficient evidence provided by the assessee. Case-Laws Income Tax Wed, 05 May 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=191989