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![Only Profit Element must be Taxed in unrecorded Business Receipts: ITAT Directs Estimation of Profit at 7% on Cash Receipts [Read Order] Only Profit Element must be Taxed in unrecorded Business Receipts: ITAT Directs Estimation of Profit at 7% on Cash Receipts [Read Order]](https://images.taxscan.in/h-upload/2025/12/29/500x300_2115716-only-profit-element-must-be-taxed-in-unrecorded-business-receipts-taxsan.webp)
Only Profit Element must be Taxed in unrecorded Business Receipts: ITAT Directs Estimation of Profit at 7% on Cash Receipts [Read Order]
The Kolkata Bench of the Income Tax Appellate Tribunal (ITAT) that the provision of Section 69A was not applicable to unrecorded cash transactions...


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