https://www.taxtmi.com/caselaws?id=800004 Unaccounted business sales are gross receipts, not taxable income in full, unless related costs or investment are independently shown to be unexplained. Taxation should therefore be confined to the reasonably estimated profit embedded in such turnover. Profit estimation should rely on functionally comparable evidence, with the taxpayer's accepted historical net-profit ratio and accounted-business profitability providing stronger internal benchmarks than an unsupported external gross-profit rate. Cash sales already included in seized accounting data, reconciled with declared annual turnover and supported by GST disclosures, cannot be treated as additional turnover or subjected to a separate profit addition. en-us Mon, 21 Sep 2026 00:00:00 +0530 Wed, 30 Sep 2026 08:41:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=800004 Unaccounted business sales are gross receipts, not taxable income in full, unless related costs or investment are independently shown to be unexplained. Taxation should therefore be confined to the reasonably estimated profit embedded in such turnover. Profit estimation should rely on functionally comparable evidence, with the taxpayer's accepted historical net-profit ratio and accounted-business profitability providing stronger internal benchmarks than an unsupported external gross-profit rate. Cash sales already included in seized accounting data, reconciled with declared annual turnover and supported by GST disclosures, cannot be treated as additional turnover or subjected to a separate profit addition. Case-Laws Income Tax Mon, 21 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=800004