https://www.taxtmi.com/caselaws?id=416050 The Tribunal allowed the appeal, setting aside the assessment due to additions made on grounds not part of the reasons for reopening. The Tribunal found the estimation of profit at 12% arbitrary and lacking a proper basis, supporting the assessee's contentions. The delay in filing the appeal was not condoned, but the Tribunal's decision rendered further discussion on merit unnecessary. en-us Thu, 09 Dec 2021 00:00:00 +0530 Mon, 20 Dec 2021 09:27:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=416050 The Tribunal allowed the appeal, setting aside the assessment due to additions made on grounds not part of the reasons for reopening. The Tribunal found the estimation of profit at 12% arbitrary and lacking a proper basis, supporting the assessee's contentions. The delay in filing the appeal was not condoned, but the Tribunal's decision rendered further discussion on merit unnecessary. Case-Laws Income Tax Thu, 09 Dec 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=416050