https://www.taxtmi.com/caselaws?id=204075 ITAT HYDERABAD partly allowed the appeal: it directed AO to estimate income at 4% where the assessee subcontracted work (reflecting reduced profit due to sub-contracting), allowing depreciation, partner remuneration and interest on that estimated profit, and ordered recomputation. The tribunal upheld rejection of the books by AO and CIT(A) but held s.40(a)(ia) disallowance inapplicable because the income estimation already addresses irregularities and further disallowance would amount to double punishment; accordingly the s.40(a)(ia) addition was deleted. en-us Fri, 23 Oct 2009 00:00:00 +0530 Tue, 02 Sep 2025 16:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=204075 ITAT HYDERABAD partly allowed the appeal: it directed AO to estimate income at 4% where the assessee subcontracted work (reflecting reduced profit due to sub-contracting), allowing depreciation, partner remuneration and interest on that estimated profit, and ordered recomputation. The tribunal upheld rejection of the books by AO and CIT(A) but held s.40(a)(ia) disallowance inapplicable because the income estimation already addresses irregularities and further disallowance would amount to double punishment; accordingly the s.40(a)(ia) addition was deleted. Case-Laws Income Tax Fri, 23 Oct 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=204075