https://www.taxtmi.com/caselaws?id=426800 The High Court ruled in favor of the revenue, setting aside the orders of the Tribunal and the Commissioner of Income Tax (Appeals). The Court found discrepancies in the transport charges claimed by the assessee, deeming them non-genuine due to lack of evidence. The Court held that the estimation of profit at 12% by the authorities lacked reasoning and justification, leading to the revival of the assessment order dated 28th March, 2013. en-us Mon, 22 Aug 2022 00:00:00 +0530 Thu, 25 Aug 2022 08:14:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=426800 The High Court ruled in favor of the revenue, setting aside the orders of the Tribunal and the Commissioner of Income Tax (Appeals). The Court found discrepancies in the transport charges claimed by the assessee, deeming them non-genuine due to lack of evidence. The Court held that the estimation of profit at 12% by the authorities lacked reasoning and justification, leading to the revival of the assessment order dated 28th March, 2013. Case-Laws Income Tax Mon, 22 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=426800