https://www.taxtmi.com/caselaws?id=150398 The Tribunal upheld the validity of the assessments' reopening but criticized the flawed and arbitrary income estimation methodology. It set aside the additions made by the Assessing Officer and partly upheld by the Commissioner of Income Tax (Appeals), emphasizing the necessity of concrete evidence and a scientific basis for income estimation. The appeals by the assessee were partially allowed, highlighting the importance of reliable evidence in tax assessments. en-us Thu, 15 Jul 2010 00:00:00 +0530 Sat, 18 May 2013 10:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=150398 The Tribunal upheld the validity of the assessments' reopening but criticized the flawed and arbitrary income estimation methodology. It set aside the additions made by the Assessing Officer and partly upheld by the Commissioner of Income Tax (Appeals), emphasizing the necessity of concrete evidence and a scientific basis for income estimation. The appeals by the assessee were partially allowed, highlighting the importance of reliable evidence in tax assessments. Case-Laws Income Tax Thu, 15 Jul 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=150398