https://www.taxtmi.com/caselaws?id=68412 The Tribunal partially allowed the assessee's appeal and dismissed the Revenue's appeal. It concluded that the AO's rejection of book results and estimation of income were unjustified, directing the deletion of additions made on hypothetical grounds. The Tribunal found the AO's method of estimating room rent based on pillow covers flawed and emphasized the importance of basing income tax on actual income rather than hypothetical figures. The Tribunal also noted discrepancies in the AO's comparison of restaurant and bar sales with other hotels, highlighting the variability in pricing patterns among establishments. en-us Fri, 09 Sep 2005 00:00:00 +0530 Fri, 06 Jul 2012 10:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68412 The Tribunal partially allowed the assessee's appeal and dismissed the Revenue's appeal. It concluded that the AO's rejection of book results and estimation of income were unjustified, directing the deletion of additions made on hypothetical grounds. The Tribunal found the AO's method of estimating room rent based on pillow covers flawed and emphasized the importance of basing income tax on actual income rather than hypothetical figures. The Tribunal also noted discrepancies in the AO's comparison of restaurant and bar sales with other hotels, highlighting the variability in pricing patterns among establishments. Case-Laws Income Tax Fri, 09 Sep 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68412