Assessing Officer Must Act Fairly u/s 68 & 115BBE; Arbitrary Actions Deemed Erroneous Without Adequate Justification.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Addition u/s 68 r.w.s. 115BBE - AO is required to act fairly as reasonable person and not arbitrarily capriciously. The assessment should have been made based on the adequate material and it should stand on its own leg. AO without examining any parties to whom the goods are sold by the assessee, came to conclusion that the sales are not genuine, without even rejecting the books of account which is in our opinion is erroneous - AT....