https://www.taxtmi.com/caselaws?id=350575 The ITAT upheld the consolidated order for multiple assessment years, citing conformity with the Income Tax Act. The estimation of commission income at 2% on bogus bills was upheld due to lack of evidence for lower rates. Protective additions towards total sale bills were upheld to safeguard revenue interests. Unexplained income from bank account deposits was confirmed, as the assessee failed to prove transactions' genuineness. Telescoping of cash deposits and cash found during search with estimated income was allowed, with issues remanded for further verification. Overall, the appeals were partly allowed for statistical purposes. en-us Mon, 25 Sep 2017 00:00:00 +0530 Wed, 08 Nov 2017 11:51:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=350575 The ITAT upheld the consolidated order for multiple assessment years, citing conformity with the Income Tax Act. The estimation of commission income at 2% on bogus bills was upheld due to lack of evidence for lower rates. Protective additions towards total sale bills were upheld to safeguard revenue interests. Unexplained income from bank account deposits was confirmed, as the assessee failed to prove transactions' genuineness. Telescoping of cash deposits and cash found during search with estimated income was allowed, with issues remanded for further verification. Overall, the appeals were partly allowed for statistical purposes. Case-Laws Income Tax Mon, 25 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=350575