https://www.taxtmi.com/caselaws?id=285429 An appellate tribunal must base its estimate of undisclosed income on material and rational inference; it cannot reduce an addition on conjecture, surmise or an unsupported figure, so the reduction was unjustified. Where a reference is answered against the assessee, the Tribunal must then dispose of the appeal conformably to that judgment and after hearing both parties; the High Court's answer does not by itself confirm the earlier appellate order. The appeal therefore failed, but the matter had to be reheard and decided afresh according to law in the light of the High Court's opinion. en-us Tue, 18 Apr 1967 00:00:00 +0530 Sat, 11 Jan 2020 10:21:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=285429 An appellate tribunal must base its estimate of undisclosed income on material and rational inference; it cannot reduce an addition on conjecture, surmise or an unsupported figure, so the reduction was unjustified. Where a reference is answered against the assessee, the Tribunal must then dispose of the appeal conformably to that judgment and after hearing both parties; the High Court's answer does not by itself confirm the earlier appellate order. The appeal therefore failed, but the matter had to be reheard and decided afresh according to law in the light of the High Court's opinion. Case-Laws Income Tax Tue, 18 Apr 1967 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=285429