https://www.taxtmi.com/caselaws?id=769346 ITAT Mumbai allowed the assessee's appeal partly regarding undisclosed income addition. The AO had added Rs. 85,88,540/- based on difference between survey declarations and filed returns. The assessee explained the variance arose from incomplete accounts during survey versus finalized audited accounts showing reduced turnover of Rs. 38,04,310/-. ITAT accepted the reconciliation and applied net profit rate of 7.76% to the turnover difference, sustaining addition of only Rs. 2,95,300/- instead of the entire amount added by AO. en-us Mon, 21 Apr 2025 00:00:00 +0530 Thu, 24 Apr 2025 09:13:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=769346 ITAT Mumbai allowed the assessee's appeal partly regarding undisclosed income addition. The AO had added Rs. 85,88,540/- based on difference between survey declarations and filed returns. The assessee explained the variance arose from incomplete accounts during survey versus finalized audited accounts showing reduced turnover of Rs. 38,04,310/-. ITAT accepted the reconciliation and applied net profit rate of 7.76% to the turnover difference, sustaining addition of only Rs. 2,95,300/- instead of the entire amount added by AO. Case-Laws Income Tax Mon, 21 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=769346