https://www.taxtmi.com/caselaws?id=341374 The Tribunal concluded that the addition of premium on the sale of cigarettes was not justified due to the lack of direct evidence linking the premium collections to the assessee. The rejection of the assessee's books of accounts under Section 145(2) was also found to be unjustified. The method of income estimation based on the alleged premium was deemed faulty and far-fetched. The Tribunal directed the deletion of the entire addition and allowed the appeals for the assessment years 1984-85, 1985-86, and 1986-87. The Tribunal emphasized the importance of direct evidence and material facts in drawing conclusions and making assessments. en-us Tue, 07 Mar 2017 00:00:00 +0530 Mon, 11 May 2026 14:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=341374 The Tribunal concluded that the addition of premium on the sale of cigarettes was not justified due to the lack of direct evidence linking the premium collections to the assessee. The rejection of the assessee's books of accounts under Section 145(2) was also found to be unjustified. The method of income estimation based on the alleged premium was deemed faulty and far-fetched. The Tribunal directed the deletion of the entire addition and allowed the appeals for the assessment years 1984-85, 1985-86, and 1986-87. The Tribunal emphasized the importance of direct evidence and material facts in drawing conclusions and making assessments. Case-Laws Income Tax Tue, 07 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=341374