ITAT Overrules AO's Expense Disallowance; Calls for Case-by-Case Assessment u/s 144 of Income Tax Act.

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....Diallowance of expenses after estimation of profit u/s 144 - ITAT deleted the additions - It is not required for the AO to apply net profit at a particular rate while finalising the assessment u/s144 of the Act. Method for estimating the income in the previous year of the assessee on the basis of net profit at a particular rate cannot be applied for all subsequent years - Order of ITAT set aside.....