https://www.taxtmi.com/caselaws?id=192018 The Tribunal directed the Assessing Officer to estimate the net profit at 5% of purchases or stock put for sale, ensuring the assessed income not less than the returned income. The Tribunal modified the CIT(A)'s order accordingly, partly allowing the Revenue's appeals. The decision aimed to address concerns raised by the Revenue regarding the estimation of net profit in liquor trade businesses and ensure appropriate tax collection in the interest of social justice. en-us Mon, 07 May 2012 00:00:00 +0530 Mon, 06 Aug 2018 14:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=192018 The Tribunal directed the Assessing Officer to estimate the net profit at 5% of purchases or stock put for sale, ensuring the assessed income not less than the returned income. The Tribunal modified the CIT(A)'s order accordingly, partly allowing the Revenue's appeals. The decision aimed to address concerns raised by the Revenue regarding the estimation of net profit in liquor trade businesses and ensure appropriate tax collection in the interest of social justice. Case-Laws Income Tax Mon, 07 May 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=192018