Income assessed at 1% on cricket betting in absence of satisfactory explanation

Kashyap Suresh Brahmbhatt Vs DCIT (ITAT Ahmedabad)

Held that AO correctly estimated the income of the assessee at 1% of the total transactions of cricket betting as found recorded in the laptops seized

Facts-

The assessee is an individual. The Vigilance Squad of State Police, Gandhinagar conducted a raid at his residential premises. During the course of the said raid, cash of Rs.43,88,500/- was found and seized besides some incriminating

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