https://www.taxtmi.com/caselaws?id=470560 Cash deposits established as sale proceeds from milk-product distribution should be treated as business turnover rather than wholly as unexplained money. Where milk-sale prices are fixed by the principal and normal trading margins range from 1% to 3%, an 8% profit estimate is excessive. A 3% net-profit rate on total bank deposits is considered reasonable, resulting in profit being estimated at that rate in favour of the assessee. en-us Mon, 24 Mar 2025 00:00:00 +0530 Fri, 31 Jul 2026 08:27:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470560 Cash deposits established as sale proceeds from milk-product distribution should be treated as business turnover rather than wholly as unexplained money. Where milk-sale prices are fixed by the principal and normal trading margins range from 1% to 3%, an 8% profit estimate is excessive. A 3% net-profit rate on total bank deposits is considered reasonable, resulting in profit being estimated at that rate in favour of the assessee. Case-Laws Income Tax Mon, 24 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470560