https://www.taxtmi.com/caselaws?id=781179 ITAT upheld the AO's computation of business income at 8% of turnover under section 44AD, agreeing with the CIT(A) that the assessed profit exceeded declared net profit, and sustained the addition. The tribunal also affirmed disallowance of an alleged investment in a residential property where funds claimed to be gifts/loans from relatives were not substantiated; required identity, PAN, bank statements, confirmations and proof of creditworthiness were not furnished. The appeal was dismissed. en-us Tue, 28 Oct 2025 00:00:00 +0530 Wed, 12 Nov 2025 08:17:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=781179 ITAT upheld the AO's computation of business income at 8% of turnover under section 44AD, agreeing with the CIT(A) that the assessed profit exceeded declared net profit, and sustained the addition. The tribunal also affirmed disallowance of an alleged investment in a residential property where funds claimed to be gifts/loans from relatives were not substantiated; required identity, PAN, bank statements, confirmations and proof of creditworthiness were not furnished. The appeal was dismissed. Case-Laws Income Tax Tue, 28 Oct 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=781179