27 results for “disallowance”+ Section 145(1)clear
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In the result, for the above reasons, we set aside the orders
Bench: V.V.S.RAO,RAMESH RANGANATHAN
1% thereon as profit would be reasonable. Indeed there is no dispute that this order was followed in all the other common orders by which the appeals of the assesses were allowed and those of the Revenue were dismissed. The Senior Standing Counsel, Sri S.R.Ashok, submits that, when estimation of income under Section 145 of the Act was held