https://www.taxtmi.com/caselaws?id=789491 Income from cheque discounting and accommodation entry activity is taxable only to the extent of the commission or profit element embedded in the cash movement, not as the full turnover. On the facts, the assessee ed that the bank deposits arose from such entry operations, and the Tribunal held that a reasonable estimation was warranted. Applying the record and cited precedents, it fixed the profit rate at 0.35% of the cash deposits instead of the higher rate adopted by the Assessing Officer, granting partial relief by reducing the estimated income. en-us Tue, 07 Apr 2026 00:00:00 +0530 Thu, 09 Apr 2026 08:09:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=789491 Income from cheque discounting and accommodation entry activity is taxable only to the extent of the commission or profit element embedded in the cash movement, not as the full turnover. On the facts, the assessee ed that the bank deposits arose from such entry operations, and the Tribunal held that a reasonable estimation was warranted. Applying the record and cited precedents, it fixed the profit rate at 0.35% of the cash deposits instead of the higher rate adopted by the Assessing Officer, granting partial relief by reducing the estimated income. Case-Laws Income Tax Tue, 07 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=789491