https://www.taxtmi.com/caselaws?id=775354 The ITAT Bangalore upheld the CIT(A)'s deletion of additions made by the AO on unaccounted sales under the "V" series for A.Y. 2014-15 to 2017-18. The AO's extrapolation of unaccounted income based on statements and a three-month period was found speculative and unsupported by corroborative evidence or material for earlier years. Retracted statements and absence of seized evidence or unexplained investments weakened the AO's case. The books of account were not rejected, further invalidating the income estimation. For A.Y. 2018-19, the AO's estimation beyond the assessee's admitted amount lacked justification. Consequently, the Revenue's appeals were dismissed, affirming the CIT(A)'s order on merit. en-us Tue, 03 Jun 2025 00:00:00 +0530 Thu, 24 Jul 2025 08:40:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=775354 The ITAT Bangalore upheld the CIT(A)'s deletion of additions made by the AO on unaccounted sales under the "V" series for A.Y. 2014-15 to 2017-18. The AO's extrapolation of unaccounted income based on statements and a three-month period was found speculative and unsupported by corroborative evidence or material for earlier years. Retracted statements and absence of seized evidence or unexplained investments weakened the AO's case. The books of account were not rejected, further invalidating the income estimation. For A.Y. 2018-19, the AO's estimation beyond the assessee's admitted amount lacked justification. Consequently, the Revenue's appeals were dismissed, affirming the CIT(A)'s order on merit. Case-Laws Income Tax Tue, 03 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=775354