https://www.taxtmi.com/caselaws?id=61456 The challenge to jurisdiction assumption by the Asstt. CIT, Inv. Circle, Patiala was rejected by the Tribunal, as the non-communication of reasons for transfer did not render it invalid under the IT Act. The Tribunal distinguished the case from precedent where the transfer was between different stations. In the dispute over turnover estimation for the cloth business, the Tribunal settled the matter by directing the Assessing Officer to consider a net profit of Rs. 20,000 based on a turnover of Rs. 2 lacs, partially allowing the appeal. en-us Wed, 31 May 1995 00:00:00 +0530 Wed, 12 Jan 2011 16:43:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61456 The challenge to jurisdiction assumption by the Asstt. CIT, Inv. Circle, Patiala was rejected by the Tribunal, as the non-communication of reasons for transfer did not render it invalid under the IT Act. The Tribunal distinguished the case from precedent where the transfer was between different stations. In the dispute over turnover estimation for the cloth business, the Tribunal settled the matter by directing the Assessing Officer to consider a net profit of Rs. 20,000 based on a turnover of Rs. 2 lacs, partially allowing the appeal. Case-Laws Income Tax Wed, 31 May 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61456