https://www.taxtmi.com/caselaws?id=198665 The Appellate Tribunal allowed the appeal of the assessee and dismissed the department's appeal for the Assessment Year 2010-11. The Tribunal found that the addition made by the Assessing Officer was based on estimation and conjectures, leading to a dispute regarding unaccounted sales of machineries. It restricted the addition to the net profit element embedded in the alleged unaccounted sales, emphasizing the importance of due process and fair consideration of all relevant details before passing orders. The Tribunal's decision highlighted the proper application of tax laws in resolving income tax assessment disputes. en-us Thu, 24 Aug 2017 00:00:00 +0530 Wed, 07 Feb 2018 07:22:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=198665 The Appellate Tribunal allowed the appeal of the assessee and dismissed the department's appeal for the Assessment Year 2010-11. The Tribunal found that the addition made by the Assessing Officer was based on estimation and conjectures, leading to a dispute regarding unaccounted sales of machineries. It restricted the addition to the net profit element embedded in the alleged unaccounted sales, emphasizing the importance of due process and fair consideration of all relevant details before passing orders. The Tribunal's decision highlighted the proper application of tax laws in resolving income tax assessment disputes. Case-Laws Income Tax Thu, 24 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=198665