https://www.taxtmi.com/caselaws?id=432098 Undisclosed bank credits treated as business turnover can justify an estimated profit addition on a reasonable basis, and the Tribunal accepted a lower 4% net profit rate on the facts, deleting the balance addition. Once income from the same material was estimated as business profit, a separate addition for undisclosed interest income was unwarranted and was deleted. The Tribunal also deleted the small unexplained investment addition after finding the source explanation and creditworthiness sufficient. TDS credit was not finally allowed on the record and was restored to the Assessing Officer for verification and consequential credit, if due. en-us Mon, 12 Dec 2022 00:00:00 +0530 Wed, 28 Dec 2022 08:20:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=432098 Undisclosed bank credits treated as business turnover can justify an estimated profit addition on a reasonable basis, and the Tribunal accepted a lower 4% net profit rate on the facts, deleting the balance addition. Once income from the same material was estimated as business profit, a separate addition for undisclosed interest income was unwarranted and was deleted. The Tribunal also deleted the small unexplained investment addition after finding the source explanation and creditworthiness sufficient. TDS credit was not finally allowed on the record and was restored to the Assessing Officer for verification and consequential credit, if due. Case-Laws Income Tax Mon, 12 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=432098