https://www.taxtmi.com/caselaws?id=11139 The court found that the provisions of Section 104 were not rightly invoked by the assessing authority, and therefore, the additional tax levied under Section 104 was not justified. The court ruled in favor of the assessee, holding that the Tribunal erred in its decision-making process by not adequately considering past losses and focusing solely on the excess provision for taxes. Consequently, the court concluded that the Tribunal's order confirming the levy of additional tax was unreasonable and not in line with established legal principles, ultimately disposing of the reference in favor of the assessee and against the Revenue. en-us Thu, 18 Mar 2004 00:00:00 +0530 Fri, 31 Jul 2009 19:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11139 The court found that the provisions of Section 104 were not rightly invoked by the assessing authority, and therefore, the additional tax levied under Section 104 was not justified. The court ruled in favor of the assessee, holding that the Tribunal erred in its decision-making process by not adequately considering past losses and focusing solely on the excess provision for taxes. Consequently, the court concluded that the Tribunal's order confirming the levy of additional tax was unreasonable and not in line with established legal principles, ultimately disposing of the reference in favor of the assessee and against the Revenue. Case-Laws Income Tax Thu, 18 Mar 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11139