https://www.taxtmi.com/caselaws?id=346391 The appeal was partly allowed regarding the estimation of profit in the IMFL business for the assessment year 2011-12. The Tribunal directed the Assessing Officer to re-compute the income at a 5% profit margin on total purchases, citing a previous decision supporting this approach. However, the treatment of unexplained cash credit and the classification of interest income as 'income from other sources' were upheld by the Tribunal, leading to the dismissal of those grounds of appeal. en-us Fri, 23 Jun 2017 00:00:00 +0530 Fri, 11 Aug 2017 07:32:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=346391 The appeal was partly allowed regarding the estimation of profit in the IMFL business for the assessment year 2011-12. The Tribunal directed the Assessing Officer to re-compute the income at a 5% profit margin on total purchases, citing a previous decision supporting this approach. However, the treatment of unexplained cash credit and the classification of interest income as 'income from other sources' were upheld by the Tribunal, leading to the dismissal of those grounds of appeal. Case-Laws Income Tax Fri, 23 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=346391