https://www.taxtmi.com/caselaws?id=798960 Income estimation after rejection of accounts must use a fair profit rate supported by past results or comparable material, rather than an unsupported rate; the rate applied to undisclosed or estimated receipts was reduced. Section 292C presumptions are rebuttable, and impounded material cannot be selectively read or sustain additions without transactional corroboration. Standard retail software acquired for internal use is a copyrighted article, not royalty or technical services requiring tax deduction. Protective additions require a linked substantive assessment, while bank stock statements, loose notings and proposed expenditure estimates alone do not prove unexplained investment or expenditure. Account credits require peak-credit and telescoping analysis; renovation records require limited verification. The enhanced Section 115BBE regime was inapplicable to financial year 2016-17. en-us Mon, 31 Aug 2026 00:00:00 +0530 Tue, 15 Sep 2026 08:31:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=798960 Income estimation after rejection of accounts must use a fair profit rate supported by past results or comparable material, rather than an unsupported rate; the rate applied to undisclosed or estimated receipts was reduced. Section 292C presumptions are rebuttable, and impounded material cannot be selectively read or sustain additions without transactional corroboration. Standard retail software acquired for internal use is a copyrighted article, not royalty or technical services requiring tax deduction. Protective additions require a linked substantive assessment, while bank stock statements, loose notings and proposed expenditure estimates alone do not prove unexplained investment or expenditure. Account credits require peak-credit and telescoping analysis; renovation records require limited verification. The enhanced Section 115BBE regime was inapplicable to financial year 2016-17. Case-Laws Income Tax Mon, 31 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=798960