https://www.taxtmi.com/caselaws?id=267035 The court upheld the ITAT's decision to restrict the addition to 6.5% of unaccounted sales, citing established legal principles. It found the AO's determination of unaccounted income excessive as it did not consider corresponding unaccounted expenses. The court also upheld the estimation of gross profit by the Commissioner (Appeals) and ITAT, as they resorted to estimation due to the lack of precise data. The appeals were summarily dismissed as they did not raise any substantial question of law. en-us Mon, 07 Sep 2015 00:00:00 +0530 Thu, 29 Oct 2015 06:07:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=267035 The court upheld the ITAT's decision to restrict the addition to 6.5% of unaccounted sales, citing established legal principles. It found the AO's determination of unaccounted income excessive as it did not consider corresponding unaccounted expenses. The court also upheld the estimation of gross profit by the Commissioner (Appeals) and ITAT, as they resorted to estimation due to the lack of precise data. The appeals were summarily dismissed as they did not raise any substantial question of law. Case-Laws Income Tax Mon, 07 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=267035