https://www.taxtmi.com/caselaws?id=779092 ITAT affirmed additions disallowing the reported 4% gross profit rate and an unsecured loan, finding the assessee failed to substantiate trading figures and lender creditworthiness, but reversed additions for vendor rebate income and rent after accepting receipts and business necessity. The tribunal also deleted the adhoc addition, allowing that ground in favour of the assessee. en-us Wed, 24 Sep 2025 00:00:00 +0530 Sat, 27 Sep 2025 08:34:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=779092 ITAT affirmed additions disallowing the reported 4% gross profit rate and an unsecured loan, finding the assessee failed to substantiate trading figures and lender creditworthiness, but reversed additions for vendor rebate income and rent after accepting receipts and business necessity. The tribunal also deleted the adhoc addition, allowing that ground in favour of the assessee. Case-Laws Income Tax Wed, 24 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=779092