https://www.taxtmi.com/caselaws?id=353445 The Tribunal partially allowed the appeal by directing the Assessing Officer to estimate the net profit at 5% of the purchase price for the IMFL business. However, the addition of Rs. 27,60,000 as unexplained cash credits was upheld. The Tribunal concluded that there was no connection established between the unsecured loans and the liquor business income, affirming the addition of the cash credits as undisclosed income. The judgment was delivered on August 30, 2017. en-us Wed, 30 Aug 2017 00:00:00 +0530 Thu, 04 Jan 2018 09:12:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=353445 The Tribunal partially allowed the appeal by directing the Assessing Officer to estimate the net profit at 5% of the purchase price for the IMFL business. However, the addition of Rs. 27,60,000 as unexplained cash credits was upheld. The Tribunal concluded that there was no connection established between the unsecured loans and the liquor business income, affirming the addition of the cash credits as undisclosed income. The judgment was delivered on August 30, 2017. Case-Laws Income Tax Wed, 30 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=353445