https://www.taxtmi.com/caselaws?id=776566 ITAT affirmed that the assessee acted as an agent for Sahara in land transactions, with no direct purchase of land in his name, and income was rightly estimated at 20% profit based on seized documents and statements. Additions made by AO on account of unexplained expenditure were upheld as they were telescoped with income. Interest income additions based on seized papers were confirmed, but notional interest on interest-free advances was deleted. Additions for unexplained cash deposits were deleted due to lack of corroborative evidence and acceptance of cash transactions in earlier assessments. Additions based solely on loose papers without corroboration were also deleted. The AO was directed to recompute net profit considering bogus bills and apply the 20% profit margin accordingly. en-us Fri, 01 Aug 2025 00:00:00 +0530 Mon, 11 Aug 2025 16:26:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=776566 ITAT affirmed that the assessee acted as an agent for Sahara in land transactions, with no direct purchase of land in his name, and income was rightly estimated at 20% profit based on seized documents and statements. Additions made by AO on account of unexplained expenditure were upheld as they were telescoped with income. Interest income additions based on seized papers were confirmed, but notional interest on interest-free advances was deleted. Additions for unexplained cash deposits were deleted due to lack of corroborative evidence and acceptance of cash transactions in earlier assessments. Additions based solely on loose papers without corroboration were also deleted. The AO was directed to recompute net profit considering bogus bills and apply the 20% profit margin accordingly. Case-Laws Income Tax Fri, 01 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=776566