https://www.taxtmi.com/caselaws?id=346390 The Tribunal upheld the assessee's appeal regarding the estimation of profit in the IMFL business, reducing the profit margin to 5% of the purchase price. The Tribunal directed the assessing officer to re-compute the profit accordingly. However, in the treatment of unexplained cash credits, the Tribunal partly allowed the appeal, affirming the addition of certain amounts as unexplained cash credits due to discrepancies in explanations provided by the assessee. The Tribunal emphasized the importance of proper documentation and evidence to support claims during assessment proceedings. en-us Fri, 23 Jun 2017 00:00:00 +0530 Fri, 11 Aug 2017 07:32:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=346390 The Tribunal upheld the assessee's appeal regarding the estimation of profit in the IMFL business, reducing the profit margin to 5% of the purchase price. The Tribunal directed the assessing officer to re-compute the profit accordingly. However, in the treatment of unexplained cash credits, the Tribunal partly allowed the appeal, affirming the addition of certain amounts as unexplained cash credits due to discrepancies in explanations provided by the assessee. The Tribunal emphasized the importance of proper documentation and evidence to support claims during assessment proceedings. Case-Laws Income Tax Fri, 23 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=346390