https://www.taxtmi.com/highlights?id=94866 ITAT held that seized material and search statements did not conclusively establish falsification of entries or bogus purchase invoices, though accounting deficiencies justified rejection of books under s.145. It upheld the CIT(A)'s best judgment assessment under s.144, sustaining estimation of business profits at 10% of turnover, following industry comparables and the Empee Distilleries precedent. ITAT further ruled that, once income is estimated, separate disallowances (including data centre expenses and addition on sale of scrap) and additions under s.68 are impermissible, all deductions being subsumed in the profit estimate. Disallowance of CSR expenditure was also deleted as no deduction had been claimed. The Revenue's appeal was accordingly dismissed. en-us Tue, 09 Dec 2025 08:41:59 +0530 Tue, 09 Dec 2025 08:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=94866 ITAT held that seized material and search statements did not conclusively establish falsification of entries or bogus purchase invoices, though accounting deficiencies justified rejection of books under s.145. It upheld the CIT(A)'s best judgment assessment under s.144, sustaining estimation of business profits at 10% of turnover, following industry comparables and the Empee Distilleries precedent. ITAT further ruled that, once income is estimated, separate disallowances (including data centre expenses and addition on sale of scrap) and additions under s.68 are impermissible, all deductions being subsumed in the profit estimate. Disallowance of CSR expenditure was also deleted as no deduction had been claimed. The Revenue's appeal was accordingly dismissed. Highlights Income Tax Tue, 09 Dec 2025 08:41:59 +0530 https://www.taxtmi.com/highlights?id=94866