https://www.taxtmi.com/caselaws?id=384710 Where books of account were rejected for defective records, cash-based expenses, self-made unverifiable vouchers, and absence of stock and quantitative tally, estimation of business income at an 8% net profit rate was upheld as reasonable. Interest from FDRs and rental receipts from JCB machines were separately treated as income outside the business profit estimate, and that classification was sustained because no material dislodged it. On these concurrent factual findings, no substantial question of law arose, so the additions made on estimation basis were maintained. en-us Mon, 19 Aug 2019 00:00:00 +0530 Wed, 21 Aug 2019 07:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=384710 Where books of account were rejected for defective records, cash-based expenses, self-made unverifiable vouchers, and absence of stock and quantitative tally, estimation of business income at an 8% net profit rate was upheld as reasonable. Interest from FDRs and rental receipts from JCB machines were separately treated as income outside the business profit estimate, and that classification was sustained because no material dislodged it. On these concurrent factual findings, no substantial question of law arose, so the additions made on estimation basis were maintained. Case-Laws Income Tax Mon, 19 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=384710