https://www.taxtmi.com/caselaws?id=781083 ITAT upheld CIT(A)'s finding on non-cash credits of Rs.94,01,100 but found no basis for reducing bank cash deposits by Rs.26,57,500 at 8% or taxing other credits at 6% under s.44AD. The Tribunal held that net profit estimation at 6% by CIT(A) was unjustified; business income should be verified against earlier years. For statistical purposes, profit rate was reduced to 4% subject to verification of figures in the appellate order, and the assessee's appeal was allowed on that basis. en-us Thu, 04 Sep 2025 00:00:00 +0530 Tue, 11 Nov 2025 08:20:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=781083 ITAT upheld CIT(A)'s finding on non-cash credits of Rs.94,01,100 but found no basis for reducing bank cash deposits by Rs.26,57,500 at 8% or taxing other credits at 6% under s.44AD. The Tribunal held that net profit estimation at 6% by CIT(A) was unjustified; business income should be verified against earlier years. For statistical purposes, profit rate was reduced to 4% subject to verification of figures in the appellate order, and the assessee's appeal was allowed on that basis. Case-Laws Income Tax Thu, 04 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=781083