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
Saima
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
Content Writer
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.
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.
StudyCafe
Delhi, Delhi, India
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