https://www.taxtmi.com/caselaws?id=190948 The Tribunal upheld the assessee's position in a case concerning the assessment year 1974-75. Discrepancies in income figures were noted, with the Tribunal favoring figures from the assessee's books over other sources. The Tribunal emphasized the need for proper explanations regarding entries and the importance of treating credit entries as loans if indicated. The Tribunal's decision was supported by the High Court, highlighting the ITO's best judgment powers in cases of unreliable material. en-us Wed, 14 Dec 1994 00:00:00 +0530 Fri, 10 Mar 2017 17:44:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=190948 The Tribunal upheld the assessee's position in a case concerning the assessment year 1974-75. Discrepancies in income figures were noted, with the Tribunal favoring figures from the assessee's books over other sources. The Tribunal emphasized the need for proper explanations regarding entries and the importance of treating credit entries as loans if indicated. The Tribunal's decision was supported by the High Court, highlighting the ITO's best judgment powers in cases of unreliable material. Case-Laws Income Tax Wed, 14 Dec 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=190948