https://www.taxtmi.com/caselaws?id=343747 In IMFL business, profit estimation was confined to 5% of purchases because the Tribunal followed a coordinate bench view that this margin was reasonable on the facts, and rejected the higher estimate adopted below. The assessee also failed to prove the genuineness and creditworthiness of two unsecured loan creditors, and confirmations alone were held insufficient, so the related additions as unexplained credits were sustained. The appeal therefore succeeded only on business-income estimation and failed on the loan issue, giving the assessee partial relief. en-us Wed, 31 May 2017 00:00:00 +0530 Thu, 01 Jun 2017 07:22:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=343747 In IMFL business, profit estimation was confined to 5% of purchases because the Tribunal followed a coordinate bench view that this margin was reasonable on the facts, and rejected the higher estimate adopted below. The assessee also failed to prove the genuineness and creditworthiness of two unsecured loan creditors, and confirmations alone were held insufficient, so the related additions as unexplained credits were sustained. The appeal therefore succeeded only on business-income estimation and failed on the loan issue, giving the assessee partial relief. Case-Laws Income Tax Wed, 31 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=343747