https://www.taxtmi.com/caselaws?id=800336 Business-income estimation for a vegetable-market commission agency must reflect activity-specific expenses, including loading, unloading, salaries and administration, after receipts are accepted as turnover. Net-profit results from the immediately succeeding assessment year and comparable taxpayers may guide the rate but are not mechanically determinative. Incomplete records and substantial transaction volume support a reasonable estimated profit. Applying these factors, income is estimated at 2% of total receipts rather than 4%, with consequential recomputation. en-us Wed, 23 Sep 2026 00:00:00 +0530 Mon, 05 Oct 2026 08:13:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=800336 Business-income estimation for a vegetable-market commission agency must reflect activity-specific expenses, including loading, unloading, salaries and administration, after receipts are accepted as turnover. Net-profit results from the immediately succeeding assessment year and comparable taxpayers may guide the rate but are not mechanically determinative. Incomplete records and substantial transaction volume support a reasonable estimated profit. Applying these factors, income is estimated at 2% of total receipts rather than 4%, with consequential recomputation. Case-Laws Income Tax Wed, 23 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=800336