https://www.taxtmi.com/caselaws?id=11748 HC held that total sales cannot be treated as assessee's profit and the Tribunal's adoption of a net profit rate was not perverse. The court approved using a net profit rate (five percent) to estimate unrecorded credit sales and refused to enhance it, noting adequacy depends on case facts and that the applied rate, if anything, was generous. The Tribunal's approach therefore stood. en-us Mon, 14 Apr 2003 00:00:00 +0530 Sat, 27 Sep 2025 12:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11748 HC held that total sales cannot be treated as assessee's profit and the Tribunal's adoption of a net profit rate was not perverse. The court approved using a net profit rate (five percent) to estimate unrecorded credit sales and refused to enhance it, noting adequacy depends on case facts and that the applied rate, if anything, was generous. The Tribunal's approach therefore stood. Case-Laws Income Tax Mon, 14 Apr 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11748