https://www.taxtmi.com/caselaws?id=768485 The SC/Tribunal partially allowed the tax appeal. The key ruling focused on income estimation methods, holding that when gross profit rate is applied, additional income cannot be added for cash transactions or advances if they are documented in business accounts. The tribunal directed the Assessing Officer to deduct legitimate business expenses and delete unwarranted income additions, while upholding the interest income addition. en-us Tue, 01 Apr 2025 00:00:00 +0530 Tue, 08 Apr 2025 08:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768485 The SC/Tribunal partially allowed the tax appeal. The key ruling focused on income estimation methods, holding that when gross profit rate is applied, additional income cannot be added for cash transactions or advances if they are documented in business accounts. The tribunal directed the Assessing Officer to deduct legitimate business expenses and delete unwarranted income additions, while upholding the interest income addition. Case-Laws Income Tax Tue, 01 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768485