https://www.taxtmi.com/caselaws?id=60414 The Appellate Tribunal allowed all three appeals by the assessee, criticizing the assessing officer's estimation of income based on unexplained investments and absence of account books. The Tribunal found discrepancies in the assessment, questioning the basis for determining the investment in the godown and highlighting the flaws in relying on alleged voluntary disclosures. It emphasized the importance of proper assessment considering all relevant evidence and directed the assessing officer to accept the returned income, canceling additions based on arbitrary estimations. en-us Fri, 06 Jul 1984 00:00:00 +0530 Wed, 05 Jan 2011 12:12:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60414 The Appellate Tribunal allowed all three appeals by the assessee, criticizing the assessing officer's estimation of income based on unexplained investments and absence of account books. The Tribunal found discrepancies in the assessment, questioning the basis for determining the investment in the godown and highlighting the flaws in relying on alleged voluntary disclosures. It emphasized the importance of proper assessment considering all relevant evidence and directed the assessing officer to accept the returned income, canceling additions based on arbitrary estimations. Case-Laws Income Tax Fri, 06 Jul 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60414