https://www.taxtmi.com/caselaws?id=384641 The Tribunal partly allowed the appeal, adjusting the net profit rate to 3.50% and deleting the addition of Rs. 3,00,00,000/- under section 68, providing significant relief to the assessee. The order stressed the importance of considering past history and judicial guidelines in income estimation and the necessity of proper examination and evidence in sustaining additions. The Tribunal found the authorities' actions to be arbitrary, illegal, and in violation of natural justice, leading to the adjustment of the assessment in favor of the assessee. en-us Fri, 22 Mar 2019 00:00:00 +0530 Mon, 19 Aug 2019 18:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=384641 The Tribunal partly allowed the appeal, adjusting the net profit rate to 3.50% and deleting the addition of Rs. 3,00,00,000/- under section 68, providing significant relief to the assessee. The order stressed the importance of considering past history and judicial guidelines in income estimation and the necessity of proper examination and evidence in sustaining additions. The Tribunal found the authorities' actions to be arbitrary, illegal, and in violation of natural justice, leading to the adjustment of the assessment in favor of the assessee. Case-Laws Income Tax Fri, 22 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=384641