https://www.taxtmi.com/caselaws?id=221795 The High Court dismissed the appeal, upholding the Tribunal's decision to remand the case back to the CIT (A) for fresh decision. The Court found no merit in the appellant's arguments, emphasizing the independence of each assessment year and the Assessing Officer's discretion in making best judgment assessments due to the lack of proper bookkeeping by the assessee. The consistent application of a net profit rate by the revenue in various assessment years was deemed reasonable, leading to the dismissal of the appeal. en-us Thu, 14 Mar 2013 00:00:00 +0530 Sat, 30 Mar 2013 09:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=221795 The High Court dismissed the appeal, upholding the Tribunal's decision to remand the case back to the CIT (A) for fresh decision. The Court found no merit in the appellant's arguments, emphasizing the independence of each assessment year and the Assessing Officer's discretion in making best judgment assessments due to the lack of proper bookkeeping by the assessee. The consistent application of a net profit rate by the revenue in various assessment years was deemed reasonable, leading to the dismissal of the appeal. Case-Laws Income Tax Thu, 14 Mar 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=221795