https://www.taxtmi.com/caselaws?id=769062 The ITAT Jodhpur dismissed the revenue's appeal challenging CIT(A)'s directions on profit estimation after book rejection. The tribunal held that when books are rejected and net profit is estimated through rate application, separate disallowances from the same rejected books cannot be made, including section 40a(ia) disallowances for delayed TDS deposits. The CIT(A) correctly excluded disputed/litigated income from turnover while estimating gross profit, as only real income should be taxed when book results are rejected. The tribunal upheld the net profit estimation at 0.11% following binding precedent from coordinated bench decisions that achieved finality before the jurisdictional HC. en-us Wed, 01 Jan 2025 00:00:00 +0530 Thu, 17 Apr 2025 10:29:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=769062 The ITAT Jodhpur dismissed the revenue's appeal challenging CIT(A)'s directions on profit estimation after book rejection. The tribunal held that when books are rejected and net profit is estimated through rate application, separate disallowances from the same rejected books cannot be made, including section 40a(ia) disallowances for delayed TDS deposits. The CIT(A) correctly excluded disputed/litigated income from turnover while estimating gross profit, as only real income should be taxed when book results are rejected. The tribunal upheld the net profit estimation at 0.11% following binding precedent from coordinated bench decisions that achieved finality before the jurisdictional HC. Case-Laws Income Tax Wed, 01 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=769062