https://www.taxtmi.com/caselaws?id=786610 Ad hoc addition of half the cash deposits received during the demonetisation window was set aside because the assessing officer did not conduct inquiry or provide reasoned selection of a fixed percentage; deletion was directed subject to verification of ledger and bank reconciliation. The best judgment estimate of income based on a fixed 25% commission rate was remitted for fresh adjudication after granting the assessee opportunity to produce documentary evidence of expenses and a lower profit margin. Interest demands were treated as consequential to assessment adjustments. Initiation of penalty proceedings was dismissed as premature pending finalisation of assessment. en-us Fri, 30 Jan 2026 00:00:00 +0530 Fri, 13 Feb 2026 16:05:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=786610 Ad hoc addition of half the cash deposits received during the demonetisation window was set aside because the assessing officer did not conduct inquiry or provide reasoned selection of a fixed percentage; deletion was directed subject to verification of ledger and bank reconciliation. The best judgment estimate of income based on a fixed 25% commission rate was remitted for fresh adjudication after granting the assessee opportunity to produce documentary evidence of expenses and a lower profit margin. Interest demands were treated as consequential to assessment adjustments. Initiation of penalty proceedings was dismissed as premature pending finalisation of assessment. Case-Laws Income Tax Fri, 30 Jan 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=786610