https://www.taxtmi.com/caselaws?id=785350 Dispute concerns estimation of business income by treating total bank credits as turnover and applying a 3% profit rate despite an agreement showing commission around 1% and admitted gross commission of 23%. The AOs adoption of a 3% profit rate without accounting for allowable business expenditures and while equating bank credits to turnover was found arbitrary. The appellate authority disposed ex parte for non-prosecution without addressing the core contention. Reliance on agreement and bank statements was accepted for determining source and nature of deposits, and the matter was remanded to the AO for fresh adjudication. en-us Wed, 26 Nov 2025 00:00:00 +0530 Thu, 22 Jan 2026 08:41:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=785350 Dispute concerns estimation of business income by treating total bank credits as turnover and applying a 3% profit rate despite an agreement showing commission around 1% and admitted gross commission of 23%. The AOs adoption of a 3% profit rate without accounting for allowable business expenditures and while equating bank credits to turnover was found arbitrary. The appellate authority disposed ex parte for non-prosecution without addressing the core contention. Reliance on agreement and bank statements was accepted for determining source and nature of deposits, and the matter was remanded to the AO for fresh adjudication. Case-Laws Income Tax Wed, 26 Nov 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=785350