https://www.taxtmi.com/caselaws?id=211081 The Tribunal upheld the Commissioner's estimation of profit based on turnover, dismissed the claim of unexplained investment in construction but directed reassessment, upheld income estimation from lorries, set aside penalties under section 271(1)(c) for reassessment, and canceled penalties under section 271B for delayed audit reports. Various appeals were partly allowed, allowed for statistical purposes, dismissed, or allowed based on specific issues. The Tribunal provided detailed reasoning for each decision, ensuring a comprehensive examination of the issues. en-us Fri, 06 Jan 2012 00:00:00 +0530 Wed, 16 May 2012 19:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=211081 The Tribunal upheld the Commissioner's estimation of profit based on turnover, dismissed the claim of unexplained investment in construction but directed reassessment, upheld income estimation from lorries, set aside penalties under section 271(1)(c) for reassessment, and canceled penalties under section 271B for delayed audit reports. Various appeals were partly allowed, allowed for statistical purposes, dismissed, or allowed based on specific issues. The Tribunal provided detailed reasoning for each decision, ensuring a comprehensive examination of the issues. Case-Laws Income Tax Fri, 06 Jan 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=211081