https://www.taxtmi.com/caselaws?id=798736 Profit embedded in unaccounted on-money receipts should be assessed after considering related cash expenditure recorded in the same seized material, as both form an integrated business stream. A uniform 15% profit rate lacks support where it rests only on general industry assumptions rather than historical margins, comparable projects, or tangible evidence. Fluctuating yearly results, project characteristics and uncorrelated receipts and expenditure make a fixed higher margin excessive, although an aggregate deficit does not establish absence of taxable income. Profit is estimated at 5% of net on-money receipts after adjusting booking cancellations. en-us Mon, 07 Sep 2026 00:00:00 +0530 Fri, 11 Sep 2026 08:13:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=798736 Profit embedded in unaccounted on-money receipts should be assessed after considering related cash expenditure recorded in the same seized material, as both form an integrated business stream. A uniform 15% profit rate lacks support where it rests only on general industry assumptions rather than historical margins, comparable projects, or tangible evidence. Fluctuating yearly results, project characteristics and uncorrelated receipts and expenditure make a fixed higher margin excessive, although an aggregate deficit does not establish absence of taxable income. Profit is estimated at 5% of net on-money receipts after adjusting booking cancellations. Case-Laws Income Tax Mon, 07 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=798736