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1970 (4) TMI 2 - SC - Income Tax
It was not justified in holding that the additions made by the ITO were in accordance with law - additions were arbitrarily made - No reasons were given to reject the accounts - Further, the method adopted for determining the escaped income appears to be highly capricious - Revenue s appeal dismissed
The High Court overturned the Income-tax Officer's additions to the assessee's income, finding them arbitrary and lacking justification. The Tribunal's adoption of these additions was also deemed unjustified. The appeals were dismissed, with no costs awarded to the respondent.
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