https://www.taxtmi.com/caselaws?id=353396 The Tribunal partially allowed the appeal, instructing the AO to recalculate profits at 5% of purchases and review unexplained credits. The addition of unexplained gifts was partly upheld, with an exception of Rs. 1.5 lakh. Issues regarding interest income and Section 68 addition were dismissed as not pursued. en-us Wed, 20 Dec 2017 00:00:00 +0530 Wed, 03 Jan 2018 08:05:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=353396 The Tribunal partially allowed the appeal, instructing the AO to recalculate profits at 5% of purchases and review unexplained credits. The addition of unexplained gifts was partly upheld, with an exception of Rs. 1.5 lakh. Issues regarding interest income and Section 68 addition were dismissed as not pursued. Case-Laws Income Tax Wed, 20 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=353396