https://www.taxtmi.com/caselaws?id=782133 ITAT dismissed the assessee's challenge to the transfer of jurisdiction under section 127, holding that participation in assessment without objection barred later challenge under section 124(3). For AYs 2005-06 and 2006-07, ITAT upheld application of a 35% gross profit rate based on past results and telescoping already granted, but held no further GP addition was warranted for AY 2007-08. Additions towards alleged unaccounted investment in stock, unexplained investment in immovable property, unexplained advances, unaccounted stock (gold), loose-paper notings, presumed money-lending, and entries relating to gold received and returned (Yash Gold) were all deleted for lack of corroborative evidence or double taxation concerns. Only a minor stock difference in silver was treated as covered by disclosed cash flow. en-us Fri, 31 Oct 2025 00:00:00 +0530 Tue, 25 Nov 2025 08:55:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=782133 ITAT dismissed the assessee's challenge to the transfer of jurisdiction under section 127, holding that participation in assessment without objection barred later challenge under section 124(3). For AYs 2005-06 and 2006-07, ITAT upheld application of a 35% gross profit rate based on past results and telescoping already granted, but held no further GP addition was warranted for AY 2007-08. Additions towards alleged unaccounted investment in stock, unexplained investment in immovable property, unexplained advances, unaccounted stock (gold), loose-paper notings, presumed money-lending, and entries relating to gold received and returned (Yash Gold) were all deleted for lack of corroborative evidence or double taxation concerns. Only a minor stock difference in silver was treated as covered by disclosed cash flow. Case-Laws Income Tax Fri, 31 Oct 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=782133