https://www.taxtmi.com/caselaws?id=187279 The Appellate Tribunal ITAT CHENNAI in 2011 ruled in favor of the assessee in a case involving the estimation of business income from a civil contract and the addition of peak credit in a bank account. The Tribunal upheld the deletion of additions made by the Assessing Officer, finding the estimation of business income and peak credit to be arbitrary and unsupported by evidence. The Tribunal confirmed the decision of the ld. CIT(A), dismissing the Revenue's appeal in both instances. en-us Fri, 16 Dec 2011 00:00:00 +0530 Mon, 17 Oct 2016 11:35:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=187279 The Appellate Tribunal ITAT CHENNAI in 2011 ruled in favor of the assessee in a case involving the estimation of business income from a civil contract and the addition of peak credit in a bank account. The Tribunal upheld the deletion of additions made by the Assessing Officer, finding the estimation of business income and peak credit to be arbitrary and unsupported by evidence. The Tribunal confirmed the decision of the ld. CIT(A), dismissing the Revenue's appeal in both instances. Case-Laws Income Tax Fri, 16 Dec 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=187279