https://www.taxtmi.com/caselaws?id=425526 The appeal filed by the assessee was allowed, and the revenue's appeal was dismissed. The CIT(A)'s approach of considering only the profit element from unrecorded receipts was upheld, and the revised return of income filed by the assessee was accepted. The decision emphasized that unrecorded receipts cannot be added in total as income without substantial evidence, and only the profit embedded should be considered. en-us Wed, 13 Jul 2022 00:00:00 +0530 Mon, 25 Jul 2022 17:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=425526 The appeal filed by the assessee was allowed, and the revenue's appeal was dismissed. The CIT(A)'s approach of considering only the profit element from unrecorded receipts was upheld, and the revised return of income filed by the assessee was accepted. The decision emphasized that unrecorded receipts cannot be added in total as income without substantial evidence, and only the profit embedded should be considered. Case-Laws Income Tax Wed, 13 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=425526