https://www.taxtmi.com/caselaws?id=71303 The Tribunal allowed the appeal, determining the Rs. 18,00,000 addition to the assessee's income was unjustified. It emphasized that accounting methods must be consistent and supported by cogent evidence. The Tribunal found that an admission contrary to law does not create estoppel, and assessments must align with the Income-tax Act. Consequently, the Rs. 18,00,000 addition was deleted. en-us Thu, 25 Jan 2007 00:00:00 +0530 Fri, 23 Feb 2024 18:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71303 The Tribunal allowed the appeal, determining the Rs. 18,00,000 addition to the assessee's income was unjustified. It emphasized that accounting methods must be consistent and supported by cogent evidence. The Tribunal found that an admission contrary to law does not create estoppel, and assessments must align with the Income-tax Act. Consequently, the Rs. 18,00,000 addition was deleted. Case-Laws Income Tax Thu, 25 Jan 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71303