https://www.taxtmi.com/caselaws?id=328787 The Tribunal affirmed the jurisdiction of the Assessing Officer in making additions to income, emphasizing adherence to procedural norms. Regarding the imputation of an 8% markup on the total operating cost, the Tribunal found the Assessing Officer's decision unjustified due to lack of independent investigation and directed its deletion. The Tribunal upheld the commercial expediency of transactions between the appellant and related entities, emphasizing consistency and rationality in assessing service charges. Consequently, the Tribunal allowed the appeal, directing the deletion of the 8% markup and highlighting the importance of evidence-based income estimations. en-us Thu, 28 Apr 2016 00:00:00 +0530 Tue, 14 Jun 2016 11:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=328787 The Tribunal affirmed the jurisdiction of the Assessing Officer in making additions to income, emphasizing adherence to procedural norms. Regarding the imputation of an 8% markup on the total operating cost, the Tribunal found the Assessing Officer's decision unjustified due to lack of independent investigation and directed its deletion. The Tribunal upheld the commercial expediency of transactions between the appellant and related entities, emphasizing consistency and rationality in assessing service charges. Consequently, the Tribunal allowed the appeal, directing the deletion of the 8% markup and highlighting the importance of evidence-based income estimations. Case-Laws Income Tax Thu, 28 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=328787