https://www.taxtmi.com/caselaws?id=427124 The Tribunal allowed the appeal, directing the Assessing Officer to calculate the appellant's income based on an 8% net profit rate on total deposits. The decision emphasized considering all relevant evidence and business activities for a fair determination of taxable income, rejecting the Assessing Officer's approach of treating the difference in turnover and cash deposits as unexplained investments. en-us Wed, 03 Aug 2022 00:00:00 +0530 Fri, 02 Sep 2022 06:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=427124 The Tribunal allowed the appeal, directing the Assessing Officer to calculate the appellant's income based on an 8% net profit rate on total deposits. The decision emphasized considering all relevant evidence and business activities for a fair determination of taxable income, rejecting the Assessing Officer's approach of treating the difference in turnover and cash deposits as unexplained investments. Case-Laws Income Tax Wed, 03 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=427124