https://www.taxtmi.com/caselaws?id=782124 ITAT held that once the AO rejects the assessee's books of account under s.145 and estimates income from liquor business at a fixed percentage, no further separate additions can be made, including on account of unexplained investments under s.68, arising from the same business activity. In this case, in the original assessment, income was estimated at 5% without any other addition. In the reassessment, the AO attempted to add unexplained investments. ITAT ruled such additional additions impermissible and allowed the assessee's appeal. en-us Fri, 10 Oct 2025 00:00:00 +0530 Tue, 25 Nov 2025 08:55:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=782124 ITAT held that once the AO rejects the assessee's books of account under s.145 and estimates income from liquor business at a fixed percentage, no further separate additions can be made, including on account of unexplained investments under s.68, arising from the same business activity. In this case, in the original assessment, income was estimated at 5% without any other addition. In the reassessment, the AO attempted to add unexplained investments. ITAT ruled such additional additions impermissible and allowed the assessee's appeal. Case-Laws Income Tax Fri, 10 Oct 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=782124