https://www.taxtmi.com/caselaws?id=775510 An ad hoc profit addition on work-in-progress was held unsustainable where the 10% completion estimate had no objective material, comparative data, or project-specific benchmark; the addition was deleted. Interest paid to a partner on capital introduced in the firm was also deleted because the payment was supported by the books and explanations, and no reliable basis showed the rate to be excessive or otherwise inadmissible. The stated principle is that estimated additions and disallowances cannot rest on conjecture and must be backed by rational, record-based support. en-us Tue, 15 Jul 2025 00:00:00 +0530 Sat, 26 Jul 2025 08:39:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=775510 An ad hoc profit addition on work-in-progress was held unsustainable where the 10% completion estimate had no objective material, comparative data, or project-specific benchmark; the addition was deleted. Interest paid to a partner on capital introduced in the firm was also deleted because the payment was supported by the books and explanations, and no reliable basis showed the rate to be excessive or otherwise inadmissible. The stated principle is that estimated additions and disallowances cannot rest on conjecture and must be backed by rational, record-based support. Case-Laws Income Tax Tue, 15 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=775510