Dismissing the appeal of the revenue the Court held that, Tribunal was justified in deleting the addition by holding that there was no independent material brought on record by Assessing Officer other than those which were already collected by Excise Department and which, were yet to be verified. (AY. 2008-09)
PCIT v. Ganga Glazed Tiles (P.) Ltd. (2020) 117 taxmann.com 107 (Guj.)(HC) Editorial: SLP of revenue is dismissed, PCIT v. Ganga Glazed Tiles (P.) Ltd (2020) 272 Taxman 13 (SC)
S. 147 : Reassessment-Method of accounting-Estimation of profit-Reassessment is held to be not valid. [S. 145, 148]