https://www.taxtmi.com/caselaws?id=469626 Where a wholesale beer trader operated under State-regulated sale prices and its declared net profit was consistent with past years, rejection of the books and estimation of income at a higher profit rate were found unjustified. The stated suspicion that sales were inflated to suppress profit was treated as illogical on the facts, and the declared profit was to be assessed after considering partner's remuneration and interest as part of business income. The ITAT Agra therefore declined to sustain the enhanced profit estimate and deleted the addition in favour of the assessee. en-us Thu, 09 Apr 2026 00:00:00 +0530 Wed, 24 Jun 2026 18:57:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469626 Where a wholesale beer trader operated under State-regulated sale prices and its declared net profit was consistent with past years, rejection of the books and estimation of income at a higher profit rate were found unjustified. The stated suspicion that sales were inflated to suppress profit was treated as illogical on the facts, and the declared profit was to be assessed after considering partner's remuneration and interest as part of business income. The ITAT Agra therefore declined to sustain the enhanced profit estimate and deleted the addition in favour of the assessee. Case-Laws Income Tax Thu, 09 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469626