Survey-Based Additions Partly Deleted – Estimated Profit Unsustainable Interest on Land Allowed as Business Cost

Welkin Developers Vs ACIT (ITAT Mumbai) Survey-Based Additions Partly Deleted – Estimated Profit Unsustainable Interest on Land Allowed as Business Cost in this case, AO made multiple additions purely based on survey proceedings – alleging under-reported profit of ₹41.14L, presumed sale of parking spaces ₹20L & disallowance of interest ₹79.42L. CIT(A) mechanically confirmed all additions. ITAT gave a well-reasoned relief: Estimated profit ₹41.14L – deleted outright: AO neither rejected books nor brought any cogent material. Addition was solely based on survey statement &...