Dismissing the appeal of the revenue the Court held that; Tribunal’s while determining assessee’s income in respect of godown receipts on estimate basis, AO had adopted a plausible view and, thus, revisional order passed by Commissioner on said issue was not sustainable. (AY.2006-07, 2007-08)
PCIT v. V. Dhana Reddy & Co( 2018) 100 taxmann.com 357 / (2019) 260 Taxman 112( AP& T) (HC) Editorial: SLP of revenue is dismissed, PCIT v. V. Dhana Reddy & Co. (2019) 260 Taxman 111 (SC)
S. 263 : Commissioner-Revision of orders prejudicial to revenue – Clearing and forwarding -Estimate of income -Renting of godown as integral part of business-Plausible view – Revision is held to be not valid. [S. 145]