High Court Upholds ITAT Decision: Rejects Unrealistic Net Profit Figure for Income Assessment as Unreasonable and Flawed.

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....Reopening of assessment - The ITAT observed that “just one unrealistic and absurd figure of net profit is taken out from the print out of the rough document from the CPU/hard disk and adopted for assessment of total income. Such an approach cannot be approved - the view taken by the ITAT is a plausible one and cannot be said to suffer from any perversity warranting interference. - HC....