https://www.taxtmi.com/caselaws?id=795503 Cash deposits treated as business receipts rather than unexplained cash credits are assessable only to the extent of the profit element. The notes state that, for the same business in preceding assessment years, profit had consistently been estimated at 3% of turnover. As no basis was identified for applying a higher 5% rate in the relevant year, income was estimated at 3% of turnover instead of 5%. en-us Tue, 16 Jun 2026 00:00:00 +0530 Thu, 23 Jul 2026 08:42:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=795503 Cash deposits treated as business receipts rather than unexplained cash credits are assessable only to the extent of the profit element. The notes state that, for the same business in preceding assessment years, profit had consistently been estimated at 3% of turnover. As no basis was identified for applying a higher 5% rate in the relevant year, income was estimated at 3% of turnover instead of 5%. Case-Laws Income Tax Tue, 16 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795503