https://www.taxtmi.com/caselaws?id=770069 ITAT Delhi upheld CIT(A)'s order deleting additions made by AO on undisclosed receipts found during search. Tribunal held that entire undisclosed receipts cannot be taxed as income, only embedded profit should be taxed. CIT(A) correctly applied 10% profit rate on undisclosed receipts instead of adding entire amount, sustaining addition of Rs. 68,21,171 as profit. Tribunal found no infirmity in CIT(A)'s approach of deleting unaccounted expenditure while applying net profit rate on undisclosed receipts. Appeal decided against revenue. en-us Tue, 29 Apr 2025 00:00:00 +0530 Tue, 06 May 2025 09:58:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=770069 ITAT Delhi upheld CIT(A)'s order deleting additions made by AO on undisclosed receipts found during search. Tribunal held that entire undisclosed receipts cannot be taxed as income, only embedded profit should be taxed. CIT(A) correctly applied 10% profit rate on undisclosed receipts instead of adding entire amount, sustaining addition of Rs. 68,21,171 as profit. Tribunal found no infirmity in CIT(A)'s approach of deleting unaccounted expenditure while applying net profit rate on undisclosed receipts. Appeal decided against revenue. Case-Laws Income Tax Tue, 29 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=770069