https://www.taxtmi.com/caselaws?id=467912 Rejection of books and the resulting gross profit estimate required reconsideration because the rate applied was not supported by comparable software trading cases or the assessee's past and subsequent results. Disallowance of depreciation also required fresh verification, since the existence and installation of fixed assets could be examined only on supporting bills, vouchers, installation records and electricity evidence. The unexplained credit addition likewise called for fresh adjudication on documentary proof of the peak balance. All three issues were remitted for verification and decision afresh on merits. en-us Fri, 14 Feb 2025 00:00:00 +0530 Wed, 08 Apr 2026 20:27:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467912 Rejection of books and the resulting gross profit estimate required reconsideration because the rate applied was not supported by comparable software trading cases or the assessee's past and subsequent results. Disallowance of depreciation also required fresh verification, since the existence and installation of fixed assets could be examined only on supporting bills, vouchers, installation records and electricity evidence. The unexplained credit addition likewise called for fresh adjudication on documentary proof of the peak balance. All three issues were remitted for verification and decision afresh on merits. Case-Laws Income Tax Fri, 14 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467912