https://www.taxtmi.com/caselaws?id=798217 Unrecorded transport receipts linked to a taxpayer through customer confirmation, PAN reporting and claimed tax deducted at source credit are treated as business turnover unless reliable contrary evidence establishes diversion. Gross turnover is not wholly taxable income where transport operations necessarily entail expenditure; taxation applies to the reasonably estimated profit embedded in those receipts. A disclosed profit margin need not be mechanically applied to unrecorded receipts when related expenditure is unverifiable, permitting estimation at a higher margin. Assessment is therefore confined to the estimated profit component of undisclosed transport turnover rather than the full gross receipts. en-us Mon, 31 Aug 2026 00:00:00 +0530 Thu, 03 Sep 2026 08:20:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=798217 Unrecorded transport receipts linked to a taxpayer through customer confirmation, PAN reporting and claimed tax deducted at source credit are treated as business turnover unless reliable contrary evidence establishes diversion. Gross turnover is not wholly taxable income where transport operations necessarily entail expenditure; taxation applies to the reasonably estimated profit embedded in those receipts. A disclosed profit margin need not be mechanically applied to unrecorded receipts when related expenditure is unverifiable, permitting estimation at a higher margin. Assessment is therefore confined to the estimated profit component of undisclosed transport turnover rather than the full gross receipts. Case-Laws Income Tax Mon, 31 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=798217