https://www.taxtmi.com/caselaws?id=24967 The High Court determined that the transactions between the assessee-company and another corporation were genuine, not sham. The Tribunal's decision to add the firm's income to the company's income was deemed unreasonable as the firm operated separately with its own capital. The Court found no material evidence supporting the Tribunal's conclusion that sales by the firm were actually made by the company. Ultimately, the High Court ruled in favor of the assessee, highlighting the Tribunal's misapplication of the law and directing that the firm's income should not be included in the company's income. en-us Fri, 08 Apr 1988 00:00:00 +0530 Sat, 23 Jan 2010 14:12:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24967 The High Court determined that the transactions between the assessee-company and another corporation were genuine, not sham. The Tribunal's decision to add the firm's income to the company's income was deemed unreasonable as the firm operated separately with its own capital. The Court found no material evidence supporting the Tribunal's conclusion that sales by the firm were actually made by the company. Ultimately, the High Court ruled in favor of the assessee, highlighting the Tribunal's misapplication of the law and directing that the firm's income should not be included in the company's income. Case-Laws Income Tax Fri, 08 Apr 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24967