https://www.taxtmi.com/caselaws?id=346061 The court upheld the rejection of the appellant's books of account and returns for various assessment years, citing insufficient evidence to justify estimated suppressed turnover. The addition of undisclosed business income was justified based on search findings, rejecting the appellant's defense. The court upheld the estimation of turnover and net profit, adding 5% of the revised suppressed turnover. Agricultural income was treated as income from other sources. Interest on fixed deposits was sustained at 10% annually. The addition of amounts lent to others was partly overturned, and income from fishing boats additions were upheld. The appellant's appeals were mostly dismissed, except for a specific amount lent to others and interest component. en-us Fri, 16 Dec 2016 00:00:00 +0530 Thu, 03 Aug 2017 07:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=346061 The court upheld the rejection of the appellant's books of account and returns for various assessment years, citing insufficient evidence to justify estimated suppressed turnover. The addition of undisclosed business income was justified based on search findings, rejecting the appellant's defense. The court upheld the estimation of turnover and net profit, adding 5% of the revised suppressed turnover. Agricultural income was treated as income from other sources. Interest on fixed deposits was sustained at 10% annually. The addition of amounts lent to others was partly overturned, and income from fishing boats additions were upheld. The appellant's appeals were mostly dismissed, except for a specific amount lent to others and interest component. Case-Laws Income Tax Fri, 16 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=346061