https://www.taxtmi.com/caselaws?id=469039 Unrecorded sales were supported by seized material and survey findings, so profit could be estimated only on those out-of-books sales, not on the entire turnover. The declared profit on regular sales was left undisturbed, and the alleged out-of-books purchases and accommodation entries were treated as absorbed within the estimated profit, leaving no basis for separate additions. A cash deposit reflected in the books against recorded sales was also not separately taxable because the sales invoices were produced and no independent evidence showed undisclosed income. The profit estimate was restricted to 0.30% on unrecorded sales, and the separate addition for the cash deposit was deleted. en-us Fri, 28 Mar 2025 00:00:00 +0530 Sat, 30 May 2026 14:01:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469039 Unrecorded sales were supported by seized material and survey findings, so profit could be estimated only on those out-of-books sales, not on the entire turnover. The declared profit on regular sales was left undisturbed, and the alleged out-of-books purchases and accommodation entries were treated as absorbed within the estimated profit, leaving no basis for separate additions. A cash deposit reflected in the books against recorded sales was also not separately taxable because the sales invoices were produced and no independent evidence showed undisclosed income. The profit estimate was restricted to 0.30% on unrecorded sales, and the separate addition for the cash deposit was deleted. Case-Laws Income Tax Fri, 28 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469039