https://www.taxtmi.com/caselaws?id=789254 Cash deposits of a wholesale potato dealer were treated as business turnover, but the Tribunal found that estimating income at 25% was excessive. It relied on the assessee's later returns, where income was disclosed on a presumptive basis at 10% and in subsequent audit years at below 10%, to align the assessment for the impugned year with the highest rate later shown by the assessee. The income was therefore directed to be assessed at 10% instead of 25%, granting partial relief. en-us Thu, 26 Feb 2026 00:00:00 +0530 Mon, 06 Apr 2026 08:51:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=789254 Cash deposits of a wholesale potato dealer were treated as business turnover, but the Tribunal found that estimating income at 25% was excessive. It relied on the assessee's later returns, where income was disclosed on a presumptive basis at 10% and in subsequent audit years at below 10%, to align the assessment for the impugned year with the highest rate later shown by the assessee. The income was therefore directed to be assessed at 10% instead of 25%, granting partial relief. Case-Laws Income Tax Thu, 26 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=789254