https://www.taxtmi.com/caselaws?id=242618 The appellant challenged the assessment under section 144 of the Income Tax Act as arbitrary and unjustified, disputing the income determination and application of 5% Net Profit. The appellant's contentions against the assessment and income determination were centered on arbitrariness and lack of justification. The appeal was partly allowed, indicating partial success in challenging the initial assessment and income determination, emphasizing the need for a fair and reasonable approach in determining taxable income. en-us Tue, 11 Jun 2013 00:00:00 +0530 Sun, 19 Jan 2014 09:43:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=242618 The appellant challenged the assessment under section 144 of the Income Tax Act as arbitrary and unjustified, disputing the income determination and application of 5% Net Profit. The appellant's contentions against the assessment and income determination were centered on arbitrariness and lack of justification. The appeal was partly allowed, indicating partial success in challenging the initial assessment and income determination, emphasizing the need for a fair and reasonable approach in determining taxable income. Case-Laws Income Tax Tue, 11 Jun 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=242618