https://www.taxtmi.com/caselaws?id=409954 The Tribunal partly allowed the appeal, ruling that the addition made by the Assessing Officer based on a 7% net profit rate was not sustainable and therefore deleted. The Tribunal emphasized the need for a proper and reasonable basis for estimating income after rejecting books of account, citing past history as a valid guideline. The decision was pronounced on 15/07/2021 at Allahabad through Video Conferencing. en-us Thu, 15 Jul 2021 00:00:00 +0530 Tue, 20 Jul 2021 09:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=409954 The Tribunal partly allowed the appeal, ruling that the addition made by the Assessing Officer based on a 7% net profit rate was not sustainable and therefore deleted. The Tribunal emphasized the need for a proper and reasonable basis for estimating income after rejecting books of account, citing past history as a valid guideline. The decision was pronounced on 15/07/2021 at Allahabad through Video Conferencing. Case-Laws Income Tax Thu, 15 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=409954