https://www.taxtmi.com/caselaws?id=349719 The Tribunal partially allowed the appeal, directing the Assessing Officer to recompute the income. The addition to business income was deleted as it was based on presumption without proper evidence. The rejection of books of account was overturned as the estimation without book rejection was deemed unjustified. The allegation of violating natural justice was dismissed due to lack of substantiation by the assessee. The compensation received was to be taxed, and the Tribunal emphasized the importance of authentic evidence in such assessments. en-us Fri, 08 Sep 2017 00:00:00 +0530 Mon, 23 Oct 2017 14:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=349719 The Tribunal partially allowed the appeal, directing the Assessing Officer to recompute the income. The addition to business income was deleted as it was based on presumption without proper evidence. The rejection of books of account was overturned as the estimation without book rejection was deemed unjustified. The allegation of violating natural justice was dismissed due to lack of substantiation by the assessee. The compensation received was to be taxed, and the Tribunal emphasized the importance of authentic evidence in such assessments. Case-Laws Income Tax Fri, 08 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=349719