Income Tax - Estimation of income - “real income/commission income” -...

Income Tax

Estimation of income - “real income/commission income” - Unexplained deposits in bank account - the assessee is engaged in the business of “cheque discounting” in order to earn commission income. - would not be correct to bring to tax the entire cash deposits as the assessee’s undisclosed income. - It would be reasonable to take 0.25% of total deposits in the bank accounts as commission income - AT

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