https://www.taxtmi.com/caselaws?id=784660 Whether addition under s.69 for unexplained investment based on survey statement should equal the full unrecorded transaction value or only the embedded profit was the dominant issue. The HC upheld the appellate authority's finding, on remand report and the assessee's uncontroverted admission, that unrecorded sales existed; however, it held the AO erred in treating the entire unrecorded turnover as unexplained investment. Applying the assessee's declared net profit rate (26.40%) to the unrecorded sales, only the unaccounted profit was taxable, warranting a reduced addition. As the Tribunal concurred with this approach, the HC found no perversity or substantial question of law and dismissed the appeal. en-us Mon, 05 Jan 2026 00:00:00 +0530 Fri, 09 Jan 2026 08:29:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=784660 Whether addition under s.69 for unexplained investment based on survey statement should equal the full unrecorded transaction value or only the embedded profit was the dominant issue. The HC upheld the appellate authority's finding, on remand report and the assessee's uncontroverted admission, that unrecorded sales existed; however, it held the AO erred in treating the entire unrecorded turnover as unexplained investment. Applying the assessee's declared net profit rate (26.40%) to the unrecorded sales, only the unaccounted profit was taxable, warranting a reduced addition. As the Tribunal concurred with this approach, the HC found no perversity or substantial question of law and dismissed the appeal. Case-Laws Income Tax Mon, 05 Jan 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=784660