₹5.01 Crore Suppressed Sales, But Only ₹10.02 Lakh Taxable ITAT Mumbai Says Unrecorded Turnover Cannot Automatically Be Treated as 100% Income A business can have unrecorded sales. But can the entire unrecorded sales be treated as taxable income? Not necessarily. The distinction between suppressed turnover and suppressed profit is fundamental. If the underlying purchases are accepted as genuine…
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