https://www.taxtmi.com/caselaws?id=786938 Where the taxpayer failed to substantiate purchases and reconcile sundry creditors and the books were held unreliable, the tribunal approved adoption of a benchmark presumptive rate (8% of turnover) as a reasonable estimation method to determine taxable net income, replacing wholesale disallowance of purchases and creditor additions; however, statutory addition for TDS shortfall was treated independently and sustained. The practical effect is that a proportionate estimated profit rate can supplant full disallowances arising from unverifiable transactions, while established TDS defaults continue to attract specific disallowance. en-us Thu, 19 Feb 2026 00:00:00 +0530 Mon, 23 Feb 2026 07:38:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=786938 Where the taxpayer failed to substantiate purchases and reconcile sundry creditors and the books were held unreliable, the tribunal approved adoption of a benchmark presumptive rate (8% of turnover) as a reasonable estimation method to determine taxable net income, replacing wholesale disallowance of purchases and creditor additions; however, statutory addition for TDS shortfall was treated independently and sustained. The practical effect is that a proportionate estimated profit rate can supplant full disallowances arising from unverifiable transactions, while established TDS defaults continue to attract specific disallowance. Case-Laws Income Tax Thu, 19 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=786938