https://www.taxtmi.com/caselaws?id=795585 Estimated business income must use reliable contemporaneous industry comparables rather than historical gross-profit averages; the applicable rate was 4.315% for declared turnover and determined undisclosed sales. Diary receipts were to be reduced for recorded sales through traders, substantiated contra entries and verified totaling errors, while no deduction applied to trader sales after the search date. A separate commission addition for alleged accommodation RTGS entries lacked independent corroboration and failed once recorded trader sales were adjusted. Cash withdrawals required verification, and any residual unexplained cash could be telescoped against income from undisclosed sales. en-us Fri, 22 May 2026 00:00:00 +0530 Fri, 24 Jul 2026 08:36:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=795585 Estimated business income must use reliable contemporaneous industry comparables rather than historical gross-profit averages; the applicable rate was 4.315% for declared turnover and determined undisclosed sales. Diary receipts were to be reduced for recorded sales through traders, substantiated contra entries and verified totaling errors, while no deduction applied to trader sales after the search date. A separate commission addition for alleged accommodation RTGS entries lacked independent corroboration and failed once recorded trader sales were adjusted. Cash withdrawals required verification, and any residual unexplained cash could be telescoped against income from undisclosed sales. Case-Laws Income Tax Fri, 22 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795585