https://www.taxtmi.com/caselaws?id=789327 Unaccounted cash sales were examined on the basis of search material and a search statement that was later retracted. The ITAT found that the Assessing Officer's 25% gross profit estimate lacked independent supporting material and was not adequately linked to the business results or the extent of unaccounted sales. However, the existence of unaccounted cash and surrounding facts justified an addition on a reasonable estimate. The gross profit addition was therefore not sustained, and the addition was confined to a lower estimated amount of Rs. 20 lakhs, with the Revenue succeeding only to that limited extent. en-us Fri, 27 Feb 2026 00:00:00 +0530 Tue, 07 Apr 2026 07:48:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=789327 Unaccounted cash sales were examined on the basis of search material and a search statement that was later retracted. The ITAT found that the Assessing Officer's 25% gross profit estimate lacked independent supporting material and was not adequately linked to the business results or the extent of unaccounted sales. However, the existence of unaccounted cash and surrounding facts justified an addition on a reasonable estimate. The gross profit addition was therefore not sustained, and the addition was confined to a lower estimated amount of Rs. 20 lakhs, with the Revenue succeeding only to that limited extent. Case-Laws Income Tax Fri, 27 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=789327