https://www.taxtmi.com/caselaws?id=424994 The Tribunal partially allowed the appeal, condoning the delay in filing due to exceptional circumstances, including the impact of the COVID pandemic. Regarding income estimation and unexplained investment, the Tribunal directed the AO to estimate net profit at 5% of purchase price and allowed the appeal on the disallowance of license fee payment. The decision was based on legal precedents and the specific nature of the liquor business, providing a reasoned judgment on the issues raised in the case. en-us Fri, 08 Jul 2022 00:00:00 +0530 Tue, 12 Jul 2022 19:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424994 The Tribunal partially allowed the appeal, condoning the delay in filing due to exceptional circumstances, including the impact of the COVID pandemic. Regarding income estimation and unexplained investment, the Tribunal directed the AO to estimate net profit at 5% of purchase price and allowed the appeal on the disallowance of license fee payment. The decision was based on legal precedents and the specific nature of the liquor business, providing a reasoned judgment on the issues raised in the case. Case-Laws Income Tax Fri, 08 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424994