https://www.taxtmi.com/caselaws?id=381170 The High Court upheld the Tribunal's decision in a tax case where the Assessing Officer determined a significantly higher taxable income than declared by the assessee, justifying the method based on gross contract receipts. The Court found no perversity in the Tribunal's ruling and dismissed the appeal questioning the correctness of setting aside the Commissioner's order under Section 263, emphasizing the factual nature of the matter and the substantial income difference. The judgment affirmed the Tribunal's decision and extended to related petitions, with no costs awarded. en-us Fri, 14 Dec 2018 00:00:00 +0530 Tue, 04 Jun 2019 10:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=381170 The High Court upheld the Tribunal's decision in a tax case where the Assessing Officer determined a significantly higher taxable income than declared by the assessee, justifying the method based on gross contract receipts. The Court found no perversity in the Tribunal's ruling and dismissed the appeal questioning the correctness of setting aside the Commissioner's order under Section 263, emphasizing the factual nature of the matter and the substantial income difference. The judgment affirmed the Tribunal's decision and extended to related petitions, with no costs awarded. Case-Laws Income Tax Fri, 14 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=381170