https://www.taxtmi.com/caselaws?id=446338 ITAT Bangalore held that AO cannot make additions under sections 68/69 after rejecting books of accounts and estimating income under section 44AD at 8% of turnover. The AO improperly added Rs. 1 crore for SBN deposits, but once income is estimated by rejecting books, no further additions from those same books are permissible. Additionally, adding cash deposits already included in disclosed turnover would constitute double taxation. Following precedents from Thomas Eapen and Anantpur Kalpana cases, all additions were deleted and assessee's appeal was allowed. en-us Thu, 21 Sep 2023 00:00:00 +0530 Thu, 30 Nov 2023 10:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=446338 ITAT Bangalore held that AO cannot make additions under sections 68/69 after rejecting books of accounts and estimating income under section 44AD at 8% of turnover. The AO improperly added Rs. 1 crore for SBN deposits, but once income is estimated by rejecting books, no further additions from those same books are permissible. Additionally, adding cash deposits already included in disclosed turnover would constitute double taxation. Following precedents from Thomas Eapen and Anantpur Kalpana cases, all additions were deleted and assessee's appeal was allowed. Case-Laws Income Tax Thu, 21 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=446338