https://www.taxtmi.com/caselaws?id=799689 Profit estimation on unrecorded sales requires a reasonable nexus to the assessee's accepted business results and supporting material. Where audited results, turnover methodology and prior-year treatment are accepted, a higher gross-profit estimate without justification lacks evidentiary foundation. Cash-credit provisions apply only to sums credited in the assessee's own books; entries found solely in an employee's electronic records, without corroborated receipt by the assessee, do not trigger the statutory burden regarding identity, creditworthiness and genuineness. Treating receipts already assessed as another person's group-fund income or as unrecorded sales turnover as separate taxable credits would also conflict with the real-income principle and create double taxation. en-us Wed, 16 Sep 2026 00:00:00 +0530 Fri, 25 Sep 2026 08:16:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=799689 Profit estimation on unrecorded sales requires a reasonable nexus to the assessee's accepted business results and supporting material. Where audited results, turnover methodology and prior-year treatment are accepted, a higher gross-profit estimate without justification lacks evidentiary foundation. Cash-credit provisions apply only to sums credited in the assessee's own books; entries found solely in an employee's electronic records, without corroborated receipt by the assessee, do not trigger the statutory burden regarding identity, creditworthiness and genuineness. Treating receipts already assessed as another person's group-fund income or as unrecorded sales turnover as separate taxable credits would also conflict with the real-income principle and create double taxation. Case-Laws Income Tax Wed, 16 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=799689