https://www.taxtmi.com/caselaws?id=395087 The Tribunal allowed the appeal, directing deletion of the addition made by the AO. The reopening of assessment under Section 148 lacked sufficient grounds. Application of Section 44AF and net profit rate were unjustified. The Tribunal stressed the importance of proper material and reasonable basis for additions or estimations in assessments. en-us Tue, 28 Apr 2020 00:00:00 +0530 Tue, 05 May 2020 08:21:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395087 The Tribunal allowed the appeal, directing deletion of the addition made by the AO. The reopening of assessment under Section 148 lacked sufficient grounds. Application of Section 44AF and net profit rate were unjustified. The Tribunal stressed the importance of proper material and reasonable basis for additions or estimations in assessments. Case-Laws Income Tax Tue, 28 Apr 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395087