https://www.taxtmi.com/caselaws?id=173268 The court remitted the case for fresh consideration as it found the Tribunal's decision contradictory in accepting results based on rejected turnover without proper evidence, leading to the deletion of all additions made under the proviso to section 145 of the Income Tax Act. The court emphasized the necessity of a proper basis for best judgment assessments and the need for clear justification for the application of NP and GP rates in assessing income, ultimately requiring a reconsideration of the case in accordance with the law. en-us Thu, 04 Aug 2005 00:00:00 +0530 Fri, 11 Sep 2015 12:11:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=173268 The court remitted the case for fresh consideration as it found the Tribunal's decision contradictory in accepting results based on rejected turnover without proper evidence, leading to the deletion of all additions made under the proviso to section 145 of the Income Tax Act. The court emphasized the necessity of a proper basis for best judgment assessments and the need for clear justification for the application of NP and GP rates in assessing income, ultimately requiring a reconsideration of the case in accordance with the law. Case-Laws Income Tax Thu, 04 Aug 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=173268