https://www.taxtmi.com/caselaws?id=795503 Cash deposits accepted as business receipts rather than unexplained cash credits are assessable only to the extent of their profit element. Where income from the same business was consistently estimated at 3% of turnover in preceding assessment years, no basis exists to apply a higher 5% profit rate for the relevant year. Income is therefore 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 accepted as business receipts rather than unexplained cash credits are assessable only to the extent of their profit element. Where income from the same business was consistently estimated at 3% of turnover in preceding assessment years, no basis exists to apply a higher 5% profit rate for the relevant year. Income is therefore 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