https://www.taxtmi.com/caselaws?id=784793 The dominant issue was the appropriate basis and rate for estimating income from alleged accommodation entries where the AO applied 8% on the entire turnover due to non-compliance by third parties with summons under s. 133(6). The Tribunal held that estimation must reflect the net effect of funds routed through the bank account and the assessee's own disclosure, and that the appellate approach of considering both debit and credit sides warranted a lower rate than the AO's ad hoc 8%. Consequently, the Tribunal directed computation of income by estimating profit at 1.5% of the turnover amount, replacing the higher addition, and the appeal was partly allowed. en-us Thu, 08 Jan 2026 00:00:00 +0530 Mon, 12 Jan 2026 09:31:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=784793 The dominant issue was the appropriate basis and rate for estimating income from alleged accommodation entries where the AO applied 8% on the entire turnover due to non-compliance by third parties with summons under s. 133(6). The Tribunal held that estimation must reflect the net effect of funds routed through the bank account and the assessee's own disclosure, and that the appellate approach of considering both debit and credit sides warranted a lower rate than the AO's ad hoc 8%. Consequently, the Tribunal directed computation of income by estimating profit at 1.5% of the turnover amount, replacing the higher addition, and the appeal was partly allowed. Case-Laws Income Tax Thu, 08 Jan 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=784793