https://www.taxtmi.com/caselaws?id=795074 Estimated gross-profit additions cannot be sustained where books of account are properly maintained, accepted, and contain no identified defects. The notes state that cash deposits during demonetisation were explained, while the gross-profit estimate was based on an average of prior years despite differing turnover and business progression. A later year's higher turnover and gross-profit rate did not justify the estimate. As the books were not rejected before profit estimation, the gross-profit addition was deleted. en-us Mon, 13 Jul 2026 00:00:00 +0530 Thu, 16 Jul 2026 09:07:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=795074 Estimated gross-profit additions cannot be sustained where books of account are properly maintained, accepted, and contain no identified defects. The notes state that cash deposits during demonetisation were explained, while the gross-profit estimate was based on an average of prior years despite differing turnover and business progression. A later year's higher turnover and gross-profit rate did not justify the estimate. As the books were not rejected before profit estimation, the gross-profit addition was deleted. Case-Laws Income Tax Mon, 13 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795074