https://www.taxtmi.com/caselaws?id=238383 The High Court upheld the peak credit method for computing real profit, justified the deletion of disclosed income to avoid double taxation, ordered re-computation for discrepancies, reduced additional amount for unaccounted chilli purchases, rejected addition for lack of evidence in related entity investment, adjusted income for coded entries accuracy, directed reduced addition for interest on advances, applied peak credit for loan repayment, and remanded squared up loans for further verification. The judgment emphasized adherence to accounting principles, factual accuracy, and due process in tax assessments. en-us Fri, 12 Jul 2013 00:00:00 +0530 Tue, 22 Oct 2013 18:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=238383 The High Court upheld the peak credit method for computing real profit, justified the deletion of disclosed income to avoid double taxation, ordered re-computation for discrepancies, reduced additional amount for unaccounted chilli purchases, rejected addition for lack of evidence in related entity investment, adjusted income for coded entries accuracy, directed reduced addition for interest on advances, applied peak credit for loan repayment, and remanded squared up loans for further verification. The judgment emphasized adherence to accounting principles, factual accuracy, and due process in tax assessments. Case-Laws Income Tax Fri, 12 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=238383