In the result, all the appeals of the Revenue are dismissed
Bench: Smt. Madhumita Roy & Shri Bhagirath Mal Biyani
reassessment of the firm under section 143(3) read with section 148 wherein the impugned share of profit was offered to tax was completed and accepted by the Revenue. There is no material with the AO to demonstrate that firm was not genuine, and its activities were doubtful nature, and that the impugned amount of Rs.25,76,208/- represented unexplained