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2012 (3) TMI 61 - ITAT COCHINBest Judgment - Estimation of Profits - A/Y 03-04 profit estimated at 1.25 percent for 04-05 at 1 per cent - Held That:- On the basis of material available CIT(A) estimated profit after considering the comparable cases and the profit ratio of the similarly placed traders of the locality.Estimations were correct. Unexplained Investments - AO: loan on security of stock and not utilized for construction - Held That:- Case referred back to to establish the nexus between the borrowal of the loan and the construction of the building.
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