https://www.taxtmi.com/caselaws?id=464725 ITAT (Surat) partially allowed the appeal. It held that bank accounts of the assessee showed regular debit-credit activity and entire cash deposits could not be treated as income; instead the AO was directed to tax 10% of total credit entries as a reasonable estimate of undisclosed profit. The Tribunal also held the enhanced rate under s.115BBE was not applicable for AY 2017-18. The CIT(A)'s blanket rejection for lack of books was moderated, resulting in a partly allowed outcome with remand to tax at the 10% estimate. en-us Fri, 24 Jan 2025 00:00:00 +0530 Tue, 11 Nov 2025 19:01:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=464725 ITAT (Surat) partially allowed the appeal. It held that bank accounts of the assessee showed regular debit-credit activity and entire cash deposits could not be treated as income; instead the AO was directed to tax 10% of total credit entries as a reasonable estimate of undisclosed profit. The Tribunal also held the enhanced rate under s.115BBE was not applicable for AY 2017-18. The CIT(A)'s blanket rejection for lack of books was moderated, resulting in a partly allowed outcome with remand to tax at the 10% estimate. Case-Laws Income Tax Fri, 24 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=464725