https://www.taxtmi.com/caselaws?id=786153 Unexplained expenditure was addressed by applying presumptive taxation to estimate taxable income: the assessee's retail cattlefeed business turnover was inferred from purchase records and an affidavit, fixed at about Rs. 20 lakh, and net profit was adopted at 8% under presumptive taxation. The tribunal applied that estimate to compute taxable income at Rs. 1.60 lakh and sustained the addition of Rs. 1.60 lakh, partly allowing the assessee's grounds on merits. The decision therefore resolves income estimation by adopting presumptive profit where detailed turnover records were unavailable. en-us Tue, 06 Jan 2026 00:00:00 +0530 Sat, 07 Feb 2026 07:19:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=786153 Unexplained expenditure was addressed by applying presumptive taxation to estimate taxable income: the assessee's retail cattlefeed business turnover was inferred from purchase records and an affidavit, fixed at about Rs. 20 lakh, and net profit was adopted at 8% under presumptive taxation. The tribunal applied that estimate to compute taxable income at Rs. 1.60 lakh and sustained the addition of Rs. 1.60 lakh, partly allowing the assessee's grounds on merits. The decision therefore resolves income estimation by adopting presumptive profit where detailed turnover records were unavailable. Case-Laws Income Tax Tue, 06 Jan 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=786153