https://www.taxtmi.com/caselaws?id=797296 Rejection of liquor-trading books is justified where proper accounts, stock registers, sale bills and supporting vouchers are not maintained, and reported net profit is below the range accepted in comparable businesses. Profit may therefore be estimated at 3% of stock put to use. Advertisement-display charges received from liquor companies for use of business-premises space constitute business receipts separate from core trading turnover. Where estimated trading profit is computed only on stock put to use and does not include those receipts, separate addition of the display charges as business income is justified. The estimated trading profit and separate treatment of display-charge receipts remain sustained. en-us Fri, 07 Aug 2026 00:00:00 +0530 Thu, 20 Aug 2026 08:14:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=797296 Rejection of liquor-trading books is justified where proper accounts, stock registers, sale bills and supporting vouchers are not maintained, and reported net profit is below the range accepted in comparable businesses. Profit may therefore be estimated at 3% of stock put to use. Advertisement-display charges received from liquor companies for use of business-premises space constitute business receipts separate from core trading turnover. Where estimated trading profit is computed only on stock put to use and does not include those receipts, separate addition of the display charges as business income is justified. The estimated trading profit and separate treatment of display-charge receipts remain sustained. Case-Laws Income Tax Fri, 07 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=797296