Failure to Establish Source of Income: ITAT restricts Addition of Income to 25% [Read Order]

The assessee offered income on presumptive basis @8% of total turnover of ₹74.26 Lacs
By Aakanksha Bajoria - On April 15, 2025 3:17 pm - 2 mins read
Failure to Establish Source of Income - Establish Source of Income - Source of Income - ITAT - taxscan

The Chennai bench of Income Tax Appellate Tribunal (ITAT) has recently restricted the addition of unestablished income to 25% noting that the assessee failed to establish the source of the said income amounting to ₹13.39 lacs. Read more: Condition of Proving ‘Source of Source of Funds’ under 68 not applicable to Non-Residents: ITAT deletes Income…

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