https://www.taxtmi.com/caselaws?id=400288 The Tribunal partially allowed the assessee's appeals by quashing additions made by the AO on profit estimation without incriminating material. A fair profit estimation of 15% of gross receipts was directed. The Tribunal dismissed claims regarding time-barred assessment, interest levy, and penalty proceedings as not pressed, emphasizing assessments can only be altered with incriminating material found during searches. en-us Tue, 25 Feb 2020 00:00:00 +0530 Tue, 03 Nov 2020 11:16:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=400288 The Tribunal partially allowed the assessee's appeals by quashing additions made by the AO on profit estimation without incriminating material. A fair profit estimation of 15% of gross receipts was directed. The Tribunal dismissed claims regarding time-barred assessment, interest levy, and penalty proceedings as not pressed, emphasizing assessments can only be altered with incriminating material found during searches. Case-Laws Income Tax Tue, 25 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=400288