https://www.taxtmi.com/caselaws?id=192017 The Tribunal partly allowed the appeal by directing the Assessing Officer to estimate net profit at 5% of purchases or stock put for sale, ensuring assessed income is not less than the returned income. The Tribunal upheld the addition of unexplained cash credits under section 68 due to lack of proof of source, dismissing the appeal on this ground. Additionally, the Tribunal affirmed the reduction of depreciation claim on a car by 1/4th for potential personal use, dismissing the appellant's appeal on this issue. en-us Fri, 18 May 2012 00:00:00 +0530 Tue, 09 May 2017 16:49:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=192017 The Tribunal partly allowed the appeal by directing the Assessing Officer to estimate net profit at 5% of purchases or stock put for sale, ensuring assessed income is not less than the returned income. The Tribunal upheld the addition of unexplained cash credits under section 68 due to lack of proof of source, dismissing the appeal on this ground. Additionally, the Tribunal affirmed the reduction of depreciation claim on a car by 1/4th for potential personal use, dismissing the appellant's appeal on this issue. Case-Laws Income Tax Fri, 18 May 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=192017