https://www.taxtmi.com/caselaws?id=471000 Business income represented by cash deposits accepted as turnover should be estimated at 2% rather than 8%, reflecting the market-linked nature of the grain trade and margins below 1% accepted in subsequent years. Treating the deposits as unexplained money was displaced once they were accepted as business turnover. Income must be recomputed by applying the 2% profit rate, resulting in relief for the assessee. en-us Fri, 28 Mar 2025 00:00:00 +0530 Mon, 17 Aug 2026 22:08:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=471000 Business income represented by cash deposits accepted as turnover should be estimated at 2% rather than 8%, reflecting the market-linked nature of the grain trade and margins below 1% accepted in subsequent years. Treating the deposits as unexplained money was displaced once they were accepted as business turnover. Income must be recomputed by applying the 2% profit rate, resulting in relief for the assessee. Case-Laws Income Tax Fri, 28 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=471000