https://www.taxtmi.com/caselaws?id=241705 The High Court ruled in favor of the assessee, holding that the Tribunal erred in law by adding only the zinc stock discrepancy amount to the income assessment. The court emphasized the need for material evidence to support income assessments and criticized the Tribunal for not considering the full context of the discrepancies. The High Court dismissed the Tribunal's addition of Rs. 6,14,720/- for zinc, directing the department to recalculate the tax assessment based on valid evidence. en-us Mon, 06 Aug 2012 00:00:00 +0530 Mon, 30 Dec 2013 10:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=241705 The High Court ruled in favor of the assessee, holding that the Tribunal erred in law by adding only the zinc stock discrepancy amount to the income assessment. The court emphasized the need for material evidence to support income assessments and criticized the Tribunal for not considering the full context of the discrepancies. The High Court dismissed the Tribunal's addition of Rs. 6,14,720/- for zinc, directing the department to recalculate the tax assessment based on valid evidence. Case-Laws Income Tax Mon, 06 Aug 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=241705