https://www.taxtmi.com/caselaws?id=332040 The High Court ruled in favor of the appellant, holding that the Tribunal's estimation of income at Rs. 1,00,000 was impermissible under the law. The Court emphasized that when books of accounts were found to be correct and complete, there was no legal basis for the Tribunal to enhance the income. Consequently, the appeal was allowed in favor of the assessee against the revenue. en-us Wed, 31 Aug 2016 00:00:00 +0530 Thu, 08 Sep 2016 19:03:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=332040 The High Court ruled in favor of the appellant, holding that the Tribunal's estimation of income at Rs. 1,00,000 was impermissible under the law. The Court emphasized that when books of accounts were found to be correct and complete, there was no legal basis for the Tribunal to enhance the income. Consequently, the appeal was allowed in favor of the assessee against the revenue. Case-Laws Income Tax Wed, 31 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=332040