ITAT Upholds 8% Profit Estimation on Bank Credits Where Assessee Failed to Substantiate Business Receipts:

ITAT Upholds 8% Profit Estimation on Bank Credits Where Assessee Failed to Substantiate Business Receipts

The ITAT Hyderabad has held that mere explanations unsupported by verifiable evidence are insufficient to dislodge additions made during reassessment proceedings under Sections 147, 148 and 144B.

Absence of Reliable Documentary Evidence Justified AO's Estimation of Income

authorSaimadateJul 7, 2026
Last update on Jul 7, 2026
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ITAT Upholds 8% Profit Estimation on Bank Credits Where Assessee Failed to Substantiate Business Receipts

The ITAT Hyderabad has held that mere explanations unsupported by verifiable evidence are insufficient to dislodge additions made during reassessment proceedings under Sections 147, 148 and 144B.

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Saima

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Saima is a Law graduate with a passion for research and content writing. She writes for Finance, Taxation and Legal Updates at Studycafe.in, simplifying complex legal decisions by the ITAT, High Court, AAR and GSTAT into uncomplicated and clear explanations.
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