https://www.taxtmi.com/caselaws?id=201604 The High Court upheld the decisions of the CIT(A) and ITAT, ruling in favor of the assessee. It found the AO's estimation method arbitrary and unsupported by comparable cases. The Court agreed that the best judgment assessment should be rational and based on facts, supporting the deletion of the addition made by the AO and accepting the assessee's audited accounts. The Court's decision favored the assessee over the revenue department. en-us Fri, 24 Dec 2010 00:00:00 +0530 Mon, 31 Oct 2011 11:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=201604 The High Court upheld the decisions of the CIT(A) and ITAT, ruling in favor of the assessee. It found the AO's estimation method arbitrary and unsupported by comparable cases. The Court agreed that the best judgment assessment should be rational and based on facts, supporting the deletion of the addition made by the AO and accepting the assessee's audited accounts. The Court's decision favored the assessee over the revenue department. Case-Laws Income Tax Fri, 24 Dec 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=201604