https://www.taxtmi.com/caselaws?id=338411 The Tribunal partially allowed the appeal, directing the Assessing Officer to verify transactions and consider the appellant's explanations on income estimation based on sales bills. The Tribunal upheld the rejection of various expenses and commission rates claimed by the appellant, emphasizing the importance of accurate bookkeeping and compliance with legal provisions. The decision highlighted the need for evidence to support income claims and adherence to statutory principles. Concerns regarding natural justice principles in enhancing assessed income were addressed, emphasizing fairness and transparency in tax assessments. en-us Mon, 28 Nov 2016 00:00:00 +0530 Fri, 03 Feb 2017 10:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=338411 The Tribunal partially allowed the appeal, directing the Assessing Officer to verify transactions and consider the appellant's explanations on income estimation based on sales bills. The Tribunal upheld the rejection of various expenses and commission rates claimed by the appellant, emphasizing the importance of accurate bookkeeping and compliance with legal provisions. The decision highlighted the need for evidence to support income claims and adherence to statutory principles. Concerns regarding natural justice principles in enhancing assessed income were addressed, emphasizing fairness and transparency in tax assessments. Case-Laws Income Tax Mon, 28 Nov 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=338411