https://www.taxtmi.com/caselaws?id=466149 Estimation of reasonable expenditure was applied to unaccounted cash receipts from sale of spent solvents and scrap, with reliance on the assessee's prior decision for the relevant assessment year directing a proportional allowance; the Assessing Officer is to treat 60% of such receipts as deductible expenditure and 40% as taxable addition, thereby reducing the addition previously made against unaccounted sale of spent solvents and scrap. en-us Tue, 26 Nov 2024 00:00:00 +0530 Tue, 27 Jan 2026 19:03:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=466149 Estimation of reasonable expenditure was applied to unaccounted cash receipts from sale of spent solvents and scrap, with reliance on the assessee's prior decision for the relevant assessment year directing a proportional allowance; the Assessing Officer is to treat 60% of such receipts as deductible expenditure and 40% as taxable addition, thereby reducing the addition previously made against unaccounted sale of spent solvents and scrap. Case-Laws Income Tax Tue, 26 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=466149