ITAT partially allowed the appeal, reducing the estimated income ...

Income Tax Appeal Partially Succeeds: Estimated Income Addition Reduced from 10% to 1.52% with Partial Set-Off Allowed

May 1, 2025

Case Laws Income Tax AT

ITAT partially allowed the appeal, reducing the estimated income addition from 10% to 1.52% of declared turnover. Despite concerns about unaudited accounts and non-filing of returns, the tribunal recognized the assessee's self-declared figures and permitted a set-off of Rs. 1,49,165/-. The decision mandates the assessee to reconcile financial discrepancies while moderating the income addition imposed by the Assessing Officer, thereby striking a balance between procedural compliance and equitable tax assessment.

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ITAT partially allowed the appeal, reducing the estimated income ...

Income Tax Appeal Partially Succeeds: Estimated Income Addition Reduced from 10% to 1.52% with Partial Set-Off Allowed

May 1, 2025

Case Laws Income Tax AT

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