https://www.taxtmi.com/caselaws?id=262789 The Tribunal allowed the miscellaneous petitions of the assessee, pronouncing judgment on August 7, 2015. The Tribunal upheld the CIT(A)'s decision to delete the addition of 8% of undisclosed contract receipts based on seized documents, finding the estimation unreliable. It also dismissed the Revenue's appeals regarding the addition of 1.5% of cash payments found in the seized diary, noting the lack of basis for such addition. The Tribunal emphasized the importance of accepting the profits disclosed by the assessee unless there are valid reasons for additions. en-us Fri, 07 Aug 2015 00:00:00 +0530 Thu, 20 Aug 2015 10:08:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=262789 The Tribunal allowed the miscellaneous petitions of the assessee, pronouncing judgment on August 7, 2015. The Tribunal upheld the CIT(A)'s decision to delete the addition of 8% of undisclosed contract receipts based on seized documents, finding the estimation unreliable. It also dismissed the Revenue's appeals regarding the addition of 1.5% of cash payments found in the seized diary, noting the lack of basis for such addition. The Tribunal emphasized the importance of accepting the profits disclosed by the assessee unless there are valid reasons for additions. Case-Laws Income Tax Fri, 07 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=262789