https://www.taxtmi.com/caselaws?id=760490 The ITAT Ahmedabad addressed unexplained deposits and commission rate estimation for old assessment years. Following the precedent set by Goldstar Finvest Pvt. Ltd. case from Bombay HC, the tribunal declined to remand the matter to the AO due to time lapse making document verification difficult. The tribunal restricted the addition to 0.15% of deposits made in the assessee's bank account, considering the practical limitations of adjudicating very old cases where evidence and personal verification would be unavailable. en-us Fri, 18 Oct 2024 00:00:00 +0530 Mon, 21 Oct 2024 12:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=760490 The ITAT Ahmedabad addressed unexplained deposits and commission rate estimation for old assessment years. Following the precedent set by Goldstar Finvest Pvt. Ltd. case from Bombay HC, the tribunal declined to remand the matter to the AO due to time lapse making document verification difficult. The tribunal restricted the addition to 0.15% of deposits made in the assessee's bank account, considering the practical limitations of adjudicating very old cases where evidence and personal verification would be unavailable. Case-Laws Income Tax Fri, 18 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=760490